Blockchain Introduction

At its most basic level, a blockchain is a digital ledger that records transactions on a decentralized network. This means that the ledger is not stored in one central location, but rather is distributed across a network of computers. Each "block" in the chain contains a collection of transactions, and once a block is added to the chain, it cannot be altered or deleted.

The security of the blockchain comes from its decentralized nature and the fact that each block is verified by a network of users before it is added to the chain. This makes it difficult for any one user to manipulate the ledger or commit fraud.

One of the most well-known applications of blockchain technology is in the creation of cryptocurrencies such as Bitcoin. In the case of Bitcoin, the blockchain serves as a ledger of all transactions made using the currency.

Beyond cryptocurrencies, blockchain technology has a wide range of potential applications in areas such as supply chain management, voting systems, and more. Its decentralized and secure nature make it an attractive solution for many industries looking to streamline processes and increase transparency.