blockchain

Blockchain is a decentralized digital ledger technology that records transactions across many computers in such a way that the registered transactions cannot be altered retroactively. This ensures transparency and security, as every block in the chain contains a list of transactions, a timestamp, and a cryptographic hash of the previous block, linking them in chronological order. Blockchain operates on a peer-to-peer network, enhancing the system’s resilience against tampering or fraud, as all participants have access to the same records. It underlies cryptocurrencies like Bitcoin but can also be used in various applications beyond digital currencies, such as supply chain management, voting systems, and smart contracts.