What is chain type Crypto?

A blockchain, in its essence, represents a "chain" that operates within the realm of cryptocurrency and digital transactions. This technology serves as the backbone of numerous financial and non-financial applications, facilitating secure and transparent exchanges.

One prominent player in the cryptocurrency exchange market is BTCC. BTCC offers a comprehensive suite of services tailored to meet the diverse needs of cryptocurrency enthusiasts and investors. Among its offerings are spot trading, futures trading, and secure wallet solutions.

Fundamentally, a blockchain is a decentralized and distributed ledger system. This means that it operates without a central authority, relying instead on a network of interconnected computers to maintain and update its records.

The ledger itself comprises a series of blocks, each of which is a digital container for information. These blocks are chained together sequentially, with each new block referencing the hash of the previous one, creating an Immutable and tamper-proof record.

The primary purpose of a blockchain is to record transactions. These transactions can be of various types, ranging from financial exchanges to data storage and transfer. Each transaction is verified by the network before being added to a new block.