Blockchain

Blockchain is a distributed ledger technology that serves as the foundation for many cryptocurrencies, including Tofuri. At its core, a blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.

Each block in a blockchain contains a cryptographic hash of the previous block, a timestamp, and transaction data. This creates an immutable chain of blocks that cannot be altered once they have been added to the blockchain. Because of this, blockchains provide a high level of security and transparency, making them ideal for use in financial systems.

In the case of Tofuri, the blockchain is maintained by a network of nodes, each of which has a copy of the blockchain. When a new transaction is initiated, it is broadcast to the network and verified by the nodes using a consensus algorithm. Once a transaction is verified, it is added to a block, which is then added to the blockchain.

Because the blockchain is decentralized and distributed, it is resistant to tampering and hacking. Additionally, because the blockchain is transparent, users can view all transactions that have occurred on the network, providing an additional layer of security.

Overall, blockchain technology is a revolutionary way to securely and transparently manage transactions and data, and it forms the backbone of Tofuri's cryptocurrency system.