What is Blockchain? 🔗
Blockchain technology is a decentralized digital ledger that records transactions across many computers so that the record cannot be altered retroactively. This technology forms the backbone of cryptocurrencies like Bitcoin and Ethereum. 🪙
Beyond cryptocurrencies, blockchain has applications in various fields such as supply chain management, healthcare, and finance. Its core features of transparency and security make it invaluable in today's digital world.
How Does Blockchain Work?
Each block in a blockchain contains a number of transactions. When a new transaction is added, every participant in the network has a record of it, making the technology extremely transparent and secure. Only the rightful owner of the private key can manage the assets associated with it.