Learn how blockchain works and why it's revolutionizing digital transactions
Blockchain is a distributed digital ledger technology that records transactions across multiple computers in a way that makes it nearly impossible to alter, hack, or cheat the system. Think of it as a digital notebook that everyone can read, but no one can erase or modify past entries.
Each "block" contains a number of transactions, and every time a new transaction occurs, a record of that transaction is added to every participant's ledger. This decentralized database is managed by multiple participants and is known as Distributed Ledger Technology (DLT).
No single entity controls the blockchain. Instead, all participants collectively maintain the network, making it more secure and resistant to censorship or manipulation.
All transactions are visible to everyone on the network. While identities can be pseudonymous, the transaction history is completely transparent and auditable.
Once data is recorded in a block and added to the chain, it becomes extremely difficult to change. This creates a permanent, tamper-proof record of all transactions.
Advanced cryptography secures transactions and controls the creation of new blocks. Each block is linked to the previous one using cryptographic hashes.
Digital currencies like Bitcoin and Ethereum use blockchain to enable peer-to-peer transactions without intermediaries.
Track products from manufacture to delivery, ensuring authenticity and preventing counterfeiting.
Self-executing contracts with terms directly written into code, automating agreements without intermediaries.