Blockchain

A decentralized and distributed digital ledger that securely records transactions across multiple computers, ensuring data integrity, transparency, and immutability. Unlike traditional databases controlled by a single entity, a blockchain is maintained by a network of nodes that collectively validate and record transactions. Each participant in the network has a copy of the entire blockchain, which makes the system redundant and consistent. Once data is recorded in a block and added to the blockchain, it cannot be altered or deleted, thanks to cryptographic hashing and the linking of blocks. Blockchain technology uses consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS) to validate transactions, ensuring agreement among nodes. While blockchains are commonly associated with cryptocurrencies like Bitcoin and Ethereum, they also have applications in various industries such as supply chain management, healthcare, and finance.