Answer Posted / Aneesh Yadav

The underlying principle of blockchain technology is decentralization and distributed consensus. Instead of relying on a central authority or intermediary, blockchains use a network of nodes (participants) to validate and record transactions. Each node maintains an identical copy of the blockchain ledger. Through cryptographic algorithms and consensus mechanisms like proof-of-work and proof-of-stake, nodes agree on the validity of new transactions and add them to the existing chain.

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