What is blockchain? 👇
What is blockchain?
Blockchain is a digital ledger that securely records various information, especially transactions. This ledger consists of blocks, and each block contains information. These blocks are connected to each other, like a chain — that's why it's called "blockchain."
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Key Features:
1. Decentralized System:
Blockchain does not have a single owner or controller. It is operated by computers (nodes) around the world.
2. Transparency:
Every transaction that occurs is visible to everyone and cannot be altered.
3. Security:
Each block is secured by a specific code known as "hash," which changes in case of any alteration of the information, making forgery almost impossible.
4. Immutable:
Once the information is added to the blockchain, it cannot be changed or deleted.
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Where is blockchain used?
Cryptocurrencies like Bitcoin, Ethereum
Banking systems
Survey and voting systems
Supply chain management
Smart contracts
