What is a blockchain simple

Blockchain technology has been making waves in the tech industry since its inception. It’s a decentralized digital ledger that records transactions across multiple devices and networks. But what exactly is a blockchain, and how does it work? In this article, we will explore the basics of blockchain and its key features.

Introduction to Blockchain

A blockchain is a distributed ledger that records transactions in a secure and transparent manner. It consists of blocks that contain information about each transaction. Each block is linked to the previous one, forming a chain. The information stored in these blocks is immutable, meaning it cannot be altered once it has been recorded.

Blockchain’s Key Features

Decentralization

One of the key features of a blockchain is its decentralized nature. Unlike traditional ledgers, which are maintained by a central authority, a blockchain is maintained by multiple devices and networks that work together to validate transactions and add them to the ledger. This means that there is no single point of failure, making it highly resilient to attacks.

Transparency

All transactions recorded on a blockchain are publicly visible and can be accessed by anyone on the network. This makes it easier to track transactions and ensure their authenticity.

Immutability

Once a transaction has been recorded on a blockchain, it cannot be altered or deleted. This ensures that the ledger is tamper-proof and provides a high level of security.

Blockchain’s Applications

<p