Blockchain is a decentralized and immutable digital ledger technology that records transactions across multiple computers or nodes. It functions as a transparent, secure, and tamper-resistant system, enabling trust and verification without the need for intermediaries. Each transaction is grouped into a "block" that is linked to the previous block, forming a chain of blocks, hence the name "blockchain." This chaining mechanism ensures the integrity of the data and prevents unauthorized modifications. Blockchain technology finds applications beyond cryptocurrencies, facilitating transparent supply chains, secure digital identity management, smart contracts, and decentralized applications. Its decentralized nature and cryptographic principles contribute to its resilience and potential for disrupting various industries.
