Blockchain is a decentralized, distributed digital ledger that records transactions across a network of computers. It was originally developed as the underlying technology for the cryptocurrency Bitcoin, but its potential applications go beyond just digital currencies.
A blockchain operates on a peer-to-peer (P2P) network, where each node has a copy of the ledger and new transactions are verified and recorded by consensus among the network participants. Once a transaction is recorded, it is permanent and cannot be altered, providing a secure and transparent way of tracking and recording information.
The key features of blockchain technology are its decentralization, transparency, immutability, and security. These features make it well-suited for a wide range of use cases, including supply chain management, digital identity, voting systems, and many others.
In recent years, blockchain technology has gained significant interest and investment from a variety of industries, with many companies exploring its potential for transforming traditional business models and creating new opportunities. However, it’s still an emerging technology and its full potential is yet to be realized.
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