It’s a type of distributed ledger that records information across a network of computers — and once something is recorded, it can’t be changed or deleted. This makes it ideal for tracking digital transactions like cryptocurrency.

Imagine a blockchain as a digital chain of blocks, where:

• Each block contains a list of recent transactions.

• Blocks are linked chronologically and secured using cryptographic hashes.

• Once added, a block becomes a permanent part of the chain.

Key features of blockchain:

• Decentralization – No single server or authority controls the data.

• Transparency – Anyone can view the transaction history.

• Immutability – Past transactions can’t be edited or erased.

• Security – Transactions are validated by the network before being added.

Blockchains power not only cryptocurrencies like Bitcoin and Ethereum, but also applications like:

• Decentralized finance (DeFi)

• Non-fungible tokens (NFTs)

• Smart contracts

• Supply chain tracking

• Voting systems

By removing the need for centralized middlemen, blockchain technology opens the door to a more open, secure, and efficient digital economy.