What is Blockchain?

Blockchain is a technology that enables the secure, transparent, and decentralized recording of transactions.

Each block contains a set of transactions, and once a block is completed, it is added to the chain in a process called “mining.” Blockchain does not rely on a central authority, and transactions and records are distributed across a network of computers, increasing security and reducing the risk of manipulation. Every transaction on the blockchain is visible to all network users, providing transparency. Additionally, each transaction is verified by multiple network participants, ensuring its validity.

Once a transaction is recorded in a block and added to the chain, it cannot be altered or deleted. This is crucial for preventing fraud and maintaining the integrity of records.

Although initially associated with cryptocurrencies, blockchain technology has many other applications, such as smart contracts, supply chain tracking, electronic voting, and property records.

Blockchain is an innovation with the potential to transform everything from how we handle financial transactions to how we ensure the integrity of important data.