Blockchain is a revolutionary technology that functions as a decentralized digital ledger, enabling secure and transparent transactions across a network of computers. Each transaction is grouped into a “block,” which is then linked to the previous block, forming a chronological “chain.” This structure ensures that once data is recorded, it cannot be altered without consensus from the network, making blockchain highly resistant to tampering and fraud.
Originally developed to support Bitcoin in 2009, blockchain has evolved beyond cryptocurrencies, finding applications in various industries such as finance, healthcare, and supply chain management. Its ability to eliminate intermediaries reduces costs and enhances efficiency. Furthermore, blockchain technology supports innovations like smart contracts, which automate transaction processes based on predefined conditions, further broadening its potential impact. Through its decentralized nature, blockchain fosters trust among users while maintaining data integrity and security.
