Skip to content
Home » What is Blockchain

What is Blockchain

Blockchain Explanation In Simple Terms For Beginners

Blockchain technology is a decentralized, distributed ledger system that is used to record and verify transactions. It was first introduced in 2008 as the underlying technology behind the digital currency Bitcoin, but has since been adopted for a variety of other applications.

At its core, a blockchain is a database that is maintained by a network of computers, rather than a single entity or organization. Each block in the blockchain contains a record of multiple transactions, and each block is linked to the one that came before it, forming a chain of blocks. This chain is secured through cryptography, making it difficult for anyone to tamper with or alter the information stored within it.

One of the key features of blockchain technology is its decentralized nature. Unlike traditional databases that are owned and controlled by a central authority, a blockchain is maintained by a network of nodes that work together to validate and verify transactions. This means that there is no single point of failure or control, making it more resilient and resistant to attacks.

Another important feature of blockchain technology is its immutability. Once a transaction is recorded in the blockchain, it cannot be altered or deleted. This means that the information stored in the blockchain is permanent and transparent, providing a high level of accountability and trust.
Read More »Blockchain Explanation In Simple Terms For Beginners