Blockchain is a digital ledger technology that is used to record and keep track of transactions. It is composed of a chain of blocks, where each block contains a number of transactions. The transactions are grouped together in blocks, and these blocks are linked together in a chronological chain. The blocks are linked together using cryptographic techniques, making it nearly impossible to alter the data once it has been recorded on the blockchain. This creates a secure and transparent system for recording and verifying transactions, allowing for decentralized trust between parties.
One of the most well-known applications of blockchain technology is Bitcoin, a decentralized digital currency. However, blockchain technology has many other potential use cases beyond just digital currencies, such as supply chain management, voting systems, and identity verification. The decentralized and secure nature of blockchain technology makes it well-suited for many different types of applications where trust and transparency are important.