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But how does bitcoin actually work?Each block is time-stamped and connected to the preceding block using cryptographic methods, forming a chain. blockchain � a long string of code that records. While traditional identifiers, such as ISIN, FIGI or currency codes, focus on assigning unique codes (or names) directly to assets, the ITIN. A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes.