Blockchain is a distributed database technology that records transactions or data in a decentralized manner, using cryptography to ensure immutability and transparency. Data is structured into chronologically linked "blocks," with each block containing the hash of the previous one, forming a secure and continuous chain. Typical applications include cryptocurrencies (e.g., Bitcoin), smart contracts, and supply chain management.
Key Features:
- Decentralized, no central authority.
- Transparent & traceable, all nodes share data.
- Securely encrypted, cryptography ensures integrity.