Blockchain

Blockchain is a decentralized digital ledger technology that enables the secure and transparent recording of transactions across multiple computers. It operates as a chain of blocks, where each block contains a list of transactions, a timestamp, and a cryptographic hash of the previous block, creating a secure and tamper-resistant record. This structure ensures that once a transaction is added to the blockchain, it cannot be altered or deleted without the consensus of the network participants, providing integrity and trust.Blockchains can be public, allowing anyone to participate, or private, restricted to a specific group. They are used in various applications, primarily in cryptocurrencies like Bitcoin, but also in supply chain management, smart contracts, and digital identity verification. The consensus mechanisms employed, such as Proof of Work or Proof of Stake, ensure agreement among participants on the validity of transactions, further enhancing security. Overall, blockchain technology is significant for its potential to disrupt traditional industries by enabling peer-to-peer transactions without relying on centralized authorities.