Blockchain

Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a secure and transparent manner. Each transaction, or “block,” is linked to the previous one, forming a chain of blocks, hence the name “blockchain.” This technology ensures that once recorded, data cannot be altered retroactively without the alteration of all subsequent blocks, which requires the consensus of the network majority. Originally developed for Bitcoin, blockchain has found applications beyond cryptocurrencies, including supply chain management, voting systems, and decentralized finance. It promises increased security, efficiency, and trust in digital transactions by eliminating intermediaries and providing a verifiable record of events.