What is Blockchain? Know everything about it.

 

Blockchain is a decentralized digital ledger that records transactions across a network of computers. It is a secure and transparent way to store information, which can be used for a variety of applications beyond just cryptocurrencies like Bitcoin.

In a blockchain, information is stored in "blocks" that are linked together in a chain. Each block contains a unique digital signature, or "hash," that makes it virtually impossible to tamper with the data. When a new transaction is made, it is verified by a network of computers in a process called "mining." Once the transaction is verified, it is added to the blockchain and cannot be changed.

Because blockchain is decentralized, it does not rely on a single authority or organization to validate transactions. This makes it more secure and resistant to hacking than traditional centralized systems. It can be used for a wide range of applications, from tracking the supply chain of goods to creating secure online voting systems.

One of the key features of blockchain is its transparency. Anyone can see the transaction history on the blockchain, which can help to increase accountability and trust. At the same time, blockchain provides a high level of privacy and security, since transactions are anonymous and cannot be altered once they are added to the blockchain.

Overall, blockchain has the potential to revolutionize the way that information is stored and transmitted, and it is likely to play an increasingly important role in a wide range of industries in the future.