Blockchain is a decentralized, distributed database that maintains a continuously growing list of records called blocks. Each block contains a timestamp and a link to the previous block, forming a chain of blocks that cannot be altered once they have been added to the database.
Blockchain technology was originally developed as the underlying technology for the digital currency Bitcoin, but it has since been used for a wide range of applications beyond digital currency. For example, blockchain can be used to create secure, transparent and efficient systems for supply chain management, voting systems, and even identity verification.
One of the key features of blockchain technology is that it is decentralized, meaning it is not controlled by a single entity or organization. Instead, it relies on a network of computers, called nodes, that work together to validate and record transactions on the blockchain. This makes it a highly secure and transparent system, as any changes to the data on the blockchain must be agreed upon by the majority of the nodes in the network.
In summary, blockchain is a distributed database technology that allows for secure and transparent record-keeping and data transfer without the need for a central authority.
0 Comments