Daily Crypto Fact #2:
What is a Blockchain?
A blockchain is a decentralized and distributed ledger that records transactions across multiple computers. It ensures data integrity using cryptographic principles, making it tamper-resistant. Once a transaction is recorded, it cannot be altered retroactively without the consensus of the network participants.
The first blockchain was conceptualized by an anonymous person or group known as Satoshi Nakamoto in 2008 to support Bitcoin, the world's first cryptocurrency. Today, blockchains power various applications beyond cryptocurrencies, such as smart contracts, supply chain management, and decentralized finance (DeFi).
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