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Why Local Governments Aren’t All Aboard the Blockchain Train
NextGov: Most local governments aren’t racing to adopt blockchain while the technology remains in its infancy, policy experts said Thursday during a National League of Cities event.
Not to be confused with cryptocurrency, which exists on blockchain, the technology functions as a transaction ledger that can only have “blocks” of information added to it but not altered. Cryptography ties new blocks to preceding ones in the “chain” by having hundreds of computers and servers in the network solve the same mathematical proof, called “mining,” thereby validating the transaction.
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