Blockchain is a decentralized, distributed ledger technology that allows for the creation and management of digital transactions without the need for a central authority. It consists of a network of computers, or nodes, that work together to validate and record transactions on a secure, shared database, known as a blockchain.
Each transaction on a blockchain is represented by a block, which is added to the chain of blocks that make up the blockchain. Each block contains a record of multiple transactions, and once a block is added to the chain, the transactions it contains are considered to be secure and immutable.
One of the key benefits of blockchain technology is that it allows for the creation of secure and transparent systems for conducting transactions and exchanging information without the need for intermediaries. This can help to reduce costs and improve the speed and efficiency of transactions.
