What is Blockchain?

Blockchain is a decentralized digital ledger technology that securely records and verifies transactions across multiple computers. It allows data to be stored in "blocks" that are linked together in a chain. Each block contains a set of transactions, and once added to the chain, the information cannot be altered, ensuring transparency and security. Blockchain is primarily used for cryptocurrencies like Bitcoin and Ethereum but has various other applications in fields such as supply chain management, healthcare, and voting systems.

The key feature of blockchain is its decentralized nature, meaning no single entity or central authority controls it. Instead, it relies on a network of participants (also known as nodes) who validate and agree on transactions. This makes blockchain highly resistant to fraud, censorship, and tampering.

In essence, blockchain technology offers a transparent, secure, and efficient way to store and transfer information, without relying on a trusted third party.