Blockchain is a decentralized, distributed digital ledger that stores data across multiple computers, making it secure, transparent, and nearly impossible to alter. Each transaction is grouped into a “block” and linked to previous blocks, forming a tamper-resistant chain.
Why it matters:
- Eliminates the need for central authorities like banks
- Enhances security through cryptography
- Ensures transparency and traceability
- Enables automated agreements through smart contracts
Used in:
- Cryptocurrencies (Bitcoin, Ethereum)
- Supply chain management
- Secure data sharing in healthcare
- Digital identity verification
