What is blockchain?

• A decentralized, distributed, and immutable digital ledger that records transactions across a network of computers.
• Grouping data into "blocks," which are linked together chronologically in a "chain" using cryptography.

Features:

Decentralization

• Data is shared across a network of nodes.
• Removing the need for a central authority.

Immutability:

• Once recorded, information cannot be altered or deleted.
• Tampering would require changing every subsequent block across all copies of the ledger (computationally infeasible).

Consensus Mechanism

• Nodes validate transactions, ensuring all copies of the ledger are identical.

Transparency

• All participants have access to the same transaction history, all of us creating a "single source of truth".

How It Works

1. A transaction is requested (e.g., sending cryptocurrency).
2. The transaction is broadcast to a network of computers (nodes).