What is Blockchain? Explained Simply
Blockchain is one of the most revolutionary technologies of our time, yet it often sounds complicated. Let's break it down simply so that anyone can understand. Imagine a Digital Ledger Think of blockchain as a digital notebook that records transactions. But unlike a regular notebook, this one is shared with many people, and once something is written in it, it cannot be erased or changed. How Does Blockchain Work? Blockchain operates as a chain of blocks where each block contains: Data (like transaction details) A unique identifier (hash) A reference to the previous block’s hash This creates a secure and tamper-proof system. Why is Blockchain Secure? Decentralization – Instead of one central authority, blockchain is maintained by a network of computers worldwide. Transparency – Everyone in the network can see the transactions, but no one can alter past records. Immutability – Once a block is added, it cannot be modified, preventing fraud. Where is Blockchain Used? Blockchain is not...