Blockchain is a revolutionary technology that allows for secure and transparent record-keeping. It operates as a decentralized ledger, meaning that no single entity controls it. Each transaction is recorded in a block, which is then linked to the previous block, forming a chain. This structure ensures that once data is added, it cannot be altered without consensus from the network, making it highly secure.
The most well-known application of blockchain is in cryptocurrencies like Bitcoin. However, its potential extends beyond digital currencies, with applications in supply chain management, healthcare, and voting systems. By providing a tamper-proof way to record transactions, blockchain can enhance trust and efficiency in various industries.