What Is a Blockchain?
A blockchain is a decentralized, distributed digital ledger. It consists of records called blocks, which are securely linked together using cryptographic hashes.
Here’s how it works:
Decentralization: Unlike traditional databases controlled by a central authority, a blockchain is maintained by numerous computers (nodes) distributed globally.
Blocks: Each block contains:
A cryptographic hash of the previous block.
A timestamp.
Transaction data (often represented as a Merkle tree).
Security: The cryptographic links between blocks ensure that altering any block retroactively would require changing all subsequent blocks—a practically impossible feat.
Use Cases: Blockchain technology is used for cryptocurrencies (like Bitcoin and Ethereum), supply chain management, voting systems, and more.
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