Understanding Blockchain Technology

What is Blockchain?

Blockchain technology is a decentralized digital ledger that records transactions across many computers. This ensures that the recorded transactions cannot be altered retroactively, providing a secure and transparent way to conduct transactions.

Key Features of Blockchain

• Decentralization: Unlike traditional databases, blockchain does not rely on a central authority.
• Transparency: All participants in the network can view the transactions, enhancing trust.
• Security: Cryptographic techniques protect the data, making it nearly impossible to hack.

As industries adopt blockchain, its potential to revolutionize sectors like finance, supply chain, and healthcare becomes increasingly evident.