What is Blockchain?

Blockchain is a type of technology that acts as a secure and transparent digital ledger or record-keeping system. It stores data across multiple computers in a network, which makes it very hard to change or hack. Each piece of data, or “block,” is linked to the previous one, forming a “chain” of blocks.

Here are some key points about blockchain:

Decentralized: Unlike traditional databases controlled by a single entity, blockchain operates across a network of computers, meaning no single person or organization controls it.
Security: Each block contains a record of transactions that is encrypted. Once added to the blockchain, the data cannot be changed, making it tamper-resistant and secure.
Transparency: Since the blockchain is shared among many users, everyone can see the information stored on it. This makes transactions open and transparent.
Immutability: Once data is recorded in a block and added to the blockchain, it cannot be altered, which ensures that the history of transactions is permanent.
Applications: Blockchain is most commonly associated with cryptocurrencies like Bitcoin and Ethereum, but it can also be used for things like smart contracts, supply chain tracking, and digital voting.

In simple terms, blockchain is like a digital notebook that multiple people can access but no one can erase or change what has already been written. It’s a technology that helps make digital transactions more secure and trustworthy.