A decentralized, distributed ledger technology that is the backbone of many cryptocurrencies.
Blockchain is a revolutionary distributed ledger technology that enables secure and transparent record-keeping of digital transactions. A blockchain works by connecting each block of transactions via cryptographic hashes so that any attempt to change the past would require changing every block in the chain – a very computationally challenging task. Blockchain technologies employ consensus algorithms, such as proof-of-work or proof-of-stake, to validate and secure transactions. Blockchain technology has the potential to revolutionize payments, and potentially various industries beyond cryptocurrency, offering solutions for supply chain management, identity verification, and more.