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Blockchain provides the technical foundation that makes tokenized assets possible. Here’s how it works: ### 1. Immutable Ledger - **Distributed consensus** ensures every participant sees the same, tamper‑proof record of all transactions. - This trust‑less environment removes the need for a central registrar to track ownership of assets. ### 2. Smart Contracts - **Programmable code** lives on the chain and can automatically enforce rules (e.g., transfer only when conditions are met). - Token st

A **permissionless blockchain** is a type of distributed ledger that anyone can join, use, and interact with without needing approval from a central authority or gatekeeper. ### Key Characteristics | Feature | Description | |---------|-------------| | **Open Access** | Anyone can download the software, run a node, and participate in the network (e.g., validate transactions, propose blocks). | | **Decentralized Governance** | Consensus rules are enforced by the protocol itself (proof‑of‑work,