What is Blockchain?
Blockchain is a distributed ledger technology, made up of a chain of interconnected blocks. Each block contains a set of transactions and a hash code generated from information from the previous block, establishing a sequential connection.
This decentralized structure means that the blockchain is not stored in a single location, but on multiple computers (nodes) on the network, eliminating the need for a central authority. Consensus between nodes, usually achieved by algorithms such as Proof of Work or Proof of Stake, validates the addition of new blocks.
The immutability of blockchain, guaranteed by encryption and distribution, makes it extremely difficult to change information once recorded. Additionally, some blockchains support smart contracts, self-executing programs with pre-defined contractual rules.
This technology goes beyond cryptocurrencies, finding applications in various sectors, such as supply chain, healthcare and electronic voting, offering reliability and security in different contexts. In short, blockchain represents an impactful innovation in the way data is stored and verified.
