The Role of Blockchain Technology in the Power Sector
Blockchain technology is a versatile distributed ledger that securely manages transactions among multiple parties. Its immutable, transparent, and secure characteristics make it suitable for applications requiring traceability. By connecting buyers directly to sellers, it reduces transaction costs and eliminates intermediaries. Transactions are recorded in blocks, authenticated by digital signatures, and stored across a peer-to-peer network. There are three types of blockchain platforms: public, private, and consortium, based on data access and visibility.
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