What is blockchain technology?

At its core, a blockchain is:

• A chain of blocks, where each block contains a group of transactions or data.
• Decentralized, meaning it’s not stored in one place or controlled by a single authority.
• Immutable, which means once data is recorded, it cannot be altered without the agreement of the entire network.

Each block includes:

• A list of transactions or data
• A timestamp
• A unique code called a hash
• The hash of the previous block (linking them like a chain)

🛡️ How Does It Work?

1. Transaction Occurs
   Someone sends data (like Bitcoin or a smart contract).
2. Verification by Network
   A network of computers (called nodes) verifies the transaction using agreed-upon rules.
3. Block Creation
   Verified transactions are grouped into a new block.
4. Block Added to the Chain
   Once validated (often through processes like proof-of-work or proof-of-stake), the block is added to the blockchain in a permanent, unchangeable way.
5. Ledger Updated
   Every computer on the network updates its copy of the blockchain.

✅ Key Features of Blockchain

• Transparency: Everyone on the network can view the blockchain.
• Security: Cryptography makes it very difficult to hack or manipulate.
• Decentralization: No single point of failure or control.
• Trustless System: Trust is built through code and consensus—not middlemen.

📦 Real-World Uses Beyond Crypto

• Supply Chain Tracking (e.g., verifying product origin)
• Smart Contracts (self-executing agreements)
• Digital Identity Verification
• Voting Systems
• Healthcare Record Management

In simple terms, blockchain is like a highly secure and transparent digital notebook that’s shared with everyone—but no one can erase the pages.

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