The Technology Behind Bitcoin: Blockchain
At the core of Bitcoin lies blockchain technology, which serves as a public ledger for all Bitcoin transactions. Each transaction is grouped into blocks and then added to a chain of previous transactions, creating a secure, immutable record. This decentralized database ensures that no single entity can alter the history of transactions, providing trust and transparency.
The blockchain is maintained by a network of nodes (computers) that validate transactions through a consensus mechanism called proof-of-work. This system prevents double-spending and fraud without the need for intermediaries.
