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If Alice initiates a transaction in Bitcoin. The transaction is immediately completed and the database can be updated upto a year later. Multiple transactions are

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If Alice initiates a transaction in Bitcoin. The transaction is immediately completed and the database can be updated upto a year later. Multiple transactions are gathered in a block and then the block is resolved. The transaction is immediately updated/resolved. Private banks first verify and then resolve the transaction. The central blockchain database system resolves the transaction

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