What Is Blockchain and How It Works

Introduction

Blockchain technology is the foundation behind cryptocurrencies like Bitcoin and Ethereum. It is a digital system used to record transactions securely and transparently.

How Blockchain Works

A blockchain is a chain of digital blocks that store information. Each block contains transaction data and is connected to the previous block.

Once information is added to the blockchain, it cannot easily be changed. This makes the system very secure.

Decentralization

Unlike traditional databases controlled by a single company or government, blockchain networks are decentralized. This means many computers around the world maintain the network.

Uses of Blockchain

Blockchain technology can be used in many industries including:

• Finance

• Supply chains

• Digital identity

• Voting systems

Conclusion

Blockchain is considered one of the most innovative technologies of the last decade. As adoption grows, it could transform many sectors of the global economy.