A blockchain is a decentralized digital ledger that records transactions in a secure and transparent manner. It is a type of distributed ledger technology (DLT) that uses cryptography to secure and verify transactions and to maintain the integrity of the data on the network.
In a blockchain, transactions are grouped into blocks and added to a chain of blocks (hence the name "blockchain"). Each block contains a hash of the previous block, creating an unbreakable chain of blocks that cannot be altered without invalidating the entire chain. This makes blockchains highly secure and resistant to tampering, as any attempt to alter a single transaction would require changing the entire chain of blocks, which is practically impossible.
Blockchains are most commonly associated with cryptocurrencies like Bitcoin, but they have a wide range of other applications, including supply chain management, digital identity verification, and decentralized finance (DeFi).
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