✏️Blockchain is a technology that allows for the recording of transactions made with cryptocurrencies. It can be understood as a ledger of transactions anchored to the network. It is composed of cryptographic language that accounts for the operations.
In addition, it is capable of eliminating intermediaries to manage financial operations, hence the great margin of security and privacy it provides to its users.
It is called a blockchain because it is structured in blocks of encoded transactions in such a way that each record accounts for the previous one. The links of the blockchain are closely related to each other and together they form a chain of information.
The transactions conducted with the blockchain are decentralized and public. Blockchain technology creates a database that is shared among its participants, known as nodes, to track operations.
Although the information on the blockchain is distributed across thousands of computers (the nodes), the data is immutable, as it requires the consensus of the majority of the network to generate any change.
Bitcoin was the first platform to develop this technology. The goal of its anonymous creator, Satoshi Nakamoto, was to enhance security, privacy, and transparency in various financial operations. With that purpose, he sought to eliminate intermediaries from the blockchain and reduce the bureaucracy that comes with banks. 📚📚📚✨
