Bitcoin
Bitcoin
BTC
$97,802.00
1d: +0.96%
7d: +2.41%
$97,802.00
+0.96%
Ethereum
Ethereum
ETH
$1,850.57
1d: +0.17%
7d: +2.46%
$1,850.57
+0.17%
Polkadot
Polkadot
DOT
$4.24
1d: +1.49%
7d: -1.88%
$4.24
+1.49%
Solana
Solana
SOL
$151.55
1d: -0.92%
7d: -2.34%
$151.55
-0.92%
XRP
XRP
XRP
$2.24
1d: -0.20%
7d: +1.15%
$2.24
-0.20%
Shiba Inu
Shiba Inu
SHIB
$0.00001360
1d: -0.02%
7d: -2.29%
$0.00001360
-0.02%

Blockchain

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Table of contents
    1. 0.2. How Blockchain Works
    2. 0.4. Key Features of Blockchain
    3. 0.6. Applications of Blockchain
    4. 0.8. The Significance of Blockchain

A blockchain is a decentralized, digital ledger that records transactions across multiple computers in a way that ensures security, transparency, and immutability. Each transaction is grouped into a block, and these blocks are linked together chronologically, forming a chain. This structure makes it virtually impossible to alter any single record without changing the entire chain, ensuring the integrity of the data.

How Blockchain Works

When a transaction occurs, it is broadcast to the network of computers (or nodes) that are responsible for validating it. Once verified, the transaction is included in a block and added to the chain. The blocks are secured through cryptographic techniques, and the decentralized nature of the network ensures that no single entity has control over the entire ledger.

Key Features of Blockchain

  • Decentralization: Blockchain operates without a central authority, distributing control across a network of participants.
  • Immutability: Once data is added to the blockchain, it cannot be altered, ensuring transparency and trust.
  • Security: Each block is linked to the previous one using a cryptographic hash, which makes tampering with the data difficult.

Applications of Blockchain

Blockchain technology is used for more than just cryptocurrencies like Bitcoin. It has various applications in industries such as finance, supply chain management, healthcare, and voting, where secure, transparent record-keeping is essential.

The Significance of Blockchain

Blockchain is revolutionizing how data is stored and shared, offering a way to ensure trust, security, and transparency in digital transactions. Its decentralized nature makes it resistant to censorship and fraud, positioning it as a transformative technology for the future of industries worldwide.