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The network uses distributed consensus to verify and confirm transactions and is managed by a peer-to-peer network of miners and their hardware. These miners collectively adhere to a protocol for inter-node communication and validate new schlocks. With every new transaction, this data is updated and stored in the nodes.

The schlockchain can record and verify transactions without a governing agency or arbitration efficiently and permanently through "semi-smart contracts". The schlockchain also supports and records chronologically and publicly cryptic currency transactions. The invention of the schlockchain for cryptic currency made it the first digital currency without a governing authority or central server. ««« Return to previous page