What exactly is a blockchain? Imagine a digital ledger—like a notebook—that records transactions.
But instead of one person holding it, it’s shared across a network of computers worldwide.
This is what’s called decentralization. No single entity controls the data.
Everyone in the network has a copy of the ledger, ensuring transparency and security.
Transactions are grouped into ‘blocks’ and linked together using cryptography,
forming a ‘chain’—hence, blockchain. Once information is added, it’s nearly impossible to change,
making the data immutable.
Blockchain has key features:
- Security: Advanced cryptographic techniques protect the data.
- Transparency: All transactions are visible to network participants.
- Immutability: Records cannot be altered or deleted.
But blockchain isn’t just about cryptocurrencies like Bitcoin.
It’s revolutionizing industries—from tracking products in a supply chain to securing patient records in healthcare.
And that’s blockchain technology in a nutshell—a secure, transparent way to record and verify data.
Video: https://youtu.be/8bU7b4nTXH8
