A blockchain is a decentralized, distributed digital ledger that records transactions in a secure and transparent way. The technology relies on a network of computers, known as nodes, to maintain the integrity of the system by verifying and adding new transactions to the ledger. Once a transaction has been added to the blockchain, it cannot be altered or deleted, making it a tamper-proof record of all transactions that have taken place on the network.
Blockchains have gained popularity due to their security and transparency, making them ideal for applications that require trust and immutability, such as financial transactions and supply chain management. Additionally, blockchains can be used to create decentralized applications (dApps) that run on the blockchain network, providing users with access to secure and transparent services without the need for intermediaries. The technology has the potential to transform various industries and disrupt traditional business models by providing a new way to exchange value in a secure, transparent, and efficient manner.