Blockchain is a revolutionary technology that allows for secure and transparent record-keeping. It operates as a decentralized ledger, meaning that no single entity has control over the entire database. Each transaction is recorded in a block, which is then linked to the previous block, creating a chain of information that is nearly impossible to alter.
This technology is the backbone of cryptocurrencies like Bitcoin and Ethereum, enabling peer-to-peer transactions without the need for intermediaries. Beyond finance, blockchain has potential applications in various fields, including supply chain management, healthcare, and voting systems, enhancing trust and efficiency in these processes.