Blockchain is a new technology that enables the verification of digital transactions. It works as a peer-to-peer computer network with nodes that can generate a series of records or data blocks that are linked in time and encrypted. Every block in the chain is inextricably linked to the one before it, and every network transaction must be validated by a majority consensus. The data inside a blockchain is secure, decentralized, and “immutable,” or impossible to change, thanks to these verification methods and cryptographic protections.
Blockchain has applications across numerous businesses and verticals, despite its origins as the underlying technology that powers cryptocurrency systems like Bitcoin and Ethereum. Finance, healthcare, supply chain logistics, and utilities are among the industries that use blockchain.
