$BTC
✍️ Blockchain is a digital technology used to store and transfer data in a secure, transparent, and tamper-proof manner, and it is the backbone of most cryptocurrencies like Bitcoin and Ethereum.
- What does the word mean?
- "Block" means a block.
- "Chain" means a chain.
- That is: a chain of blocks linked to each other.
- How does blockchain work?
1. Each block contains:
- Data (such as financial transactions).
- An identifier (Hash).
- An identifier for the previous block.
2. The linkage between blocks means that tampering with any block will break the chain, and thus the fault is immediately detected.
3. Transactions are recorded as a permanent, unchangeable record, shared among all participants in the network.
- Why is it important?
- High security: Data cannot be easily tampered with.
- Transparency: Everyone can see the transactions.
- Decentralization: It is not controlled by a single party (like banks or governments).
- Privacy: Without the need to share your personal information.
- Uses:
- Cryptocurrencies (like Bitcoin).
- Smart Contracts.
- Supply chain management.
- Protecting digital property rights.
- Electronic voting.
