Blockchain in Brief
Blockchain is a digital technology that represents a series of blocks linked together in an encrypted and secure way. Each block contains a set of transactions or data, and when a new transaction is added, a new block is added to the chain.
Here are the main points of blockchain:
- *Decentralization*: Instead of data being confined to one central location, it is distributed across a network of computers (nodes).
- *Transparency*: All transactions are recorded in a public ledger, and anyone can view them.
- *Security*: It relies on encryption techniques to ensure that data cannot be changed or forged.
- *Consensus*: It requires the approval of the majority of nodes in the network to add a new block, which prevents tampering.
Blockchain is used in many applications, including digital currencies such as $BTC , smart contracts, and supply chains. It is considered an innovative technology because it provides a high level of security and transparency without the need for intermediaries.
