Blockchain is the technology that underlies many cryptocurrencies and decentralized applications.
It is a distributed ledger that stores transaction data in the form of a chain of blocks. Each block contains information about several transactions, as well as a unique cryptographic hash of the previous block. This creates a continuous and secure chain of data.
The main characteristics of the blockchain include:
1. Decentralization: There is no single center that controls the entire network. All network participants have access to the same version of the data, which reduces the risk of manipulation and fraud.
2. Transparency: All transactions are visible to network participants, which increases trust and allows you to track the movement of funds.
3. Security:
Cryptographic protection makes the blockchain resistant to hacking and counterfeiting. It is impossible to change the data in one block without changing all subsequent blocks, which requires enormous computing resources.
Modern improvements and applications
