Blockchain is a decentralized and distributed digital ledger technology that is used to record and track transactions in a secure and transparent way.
It allows users to create a permanent, tamper-proof record of transactions, which is validated and confirmed by a network of computers.
Blockchain technology is based on a series of blocks, each containing a set of transactions, and connected together in a chain. Each block is verified and validated by the network of computers in a decentralized and distributed manner, making it difficult for any individual or entity to manipulate or corrupt the data.
One of the key features of blockchain is its immutability, meaning that once a transaction is recorded on the blockchain, it cannot be altered or deleted. This makes it a secure and reliable system for keeping track of transactions and can be used in a variety of applications such as finance, healthcare, supply chain management, and more.
Furthermore, blockchain technology provides a level of transparency, as all parties involved in a transaction can view and access the same information. This increases accountability and trust, and reduces the risk of fraud or errors in the transaction process.
