What is Blockchain?
A decentralized, distributed ledger technology that records transactions across many computers.
Key details
- Decentralized
- No single entity has control over the entire network.
- Distributed
- The ledger is spread across multiple nodes or computers.
- Immutable
- Once data is recorded, it's extremely difficult to change.
- Transparent
- All transactions are visible to anyone on the network.
- Secure
- Uses cryptography to ensure data integrity and security.
Examples
- 01Bitcoin uses blockchain to record financial transactions.
- 02Ethereum uses blockchain to support smart contracts and decentralized applications.
- 03Supply chain management can use blockchain to track products from manufacture to delivery.