What is blockchain technology?
blockchain technology is a decentralized
and distributed Ledger system that
records transactions across multiple
computers in a way that is secure
transparent and tamper resistant it
consists of a chain of blocks where each
block contains a list of transactions
these blocks are linked together using
cryptographic hashes creating a
continuous chain of Records here’s a
breakdown of some key features
decentralization unlike traditional
centralized systems where a single
entity controls the data blockchain
operates on a peer-to-peer Network where
every participant node has a copy of the
entire blockchain transparency the data
recorded on a blockchain is visible to
all participants in the network this
transparency helps in maintaining
integrity and Trust immutability once a
block is added to the blockchain it is
extremely difficult to alter its
contents this is achieved through
cryptographic hashing and consensus
mechanisms making the blockchain tamper
resistant consensus mechanisms these
Areo ials that ensure all nodes and the
network agree on the validity of
transactions popular consensus
mechanisms include proof of work power
and proof of stake PA Smart contracts
these are self-executing contracts with
the terms of the agreement directly
written into code they automatically
execute and enforce the terms when
predefined conditions are met
eliminating the need for
intermediaries blockchain technology is
most commonly associated with
cryptocurrencies like Bitcoin and
ethereum where it serves as the
underlying technology however its
potential applications extend far beyond
just Financial transactions including
Supply Chain management voting systems
identity verification healthare and more
This video tells you about blockchain technology.