Introduction to Blockchain
Blockchain technology is a decentralized digital ledger that records transactions across many computers so that the record cannot be altered retroactively. This ensures the security and transparency of data.
Key Concepts
- Decentralization: No single authority, such as a government or a central bank, regulates or maintains it.
- Immutability: Once recorded, the information is immutable, making tampering impossible.
- Transparency: Transactions are visible to all nodes in the network.
Applications of Blockchain
Blockchain is not limited to cryptocurrencies like Bitcoin. It's being explored in various sectors:
- Finance: For secure, transparent transactions.
- Healthcare: To store patient records securely.
- Supply Chain: To track the origin and status of goods.