๐ก information ๐ก
_What is Blockchain?_
Blockchain is a distributed ledger technology used to record transactions in a secure and encrypted manner. It consists of a chain of blocks, each block containing a set of transactions. The blocks are linked using cryptographic algorithms, making it difficult to modify or delete data.
_How Does Blockchain Work?_
1. Transactions are recorded in a block.
2. The block is encrypted and added to the chain.
3. The block's validity is verified by a network of devices.
4. The ledger is updated across all devices in the network.
_Benefits of Blockchain_
1. Security: Cryptographic algorithms protect data from modification or deletion.
2. Transparency: All transactions are visible to everyone.
3. Efficiency: Reduced need for intermediaries and faster transactions.
_Blockchain Applications_
1. Digital currencies (e.g., Bitcoin).
2. Supply chain tracking.
3. Smart contracts.
