Blockchain

Blockchain is a decentralized and transparent digital ledger that records transactions across multiple computers or nodes, operating on a peer-to-peer network where each participant maintains a copy of the ledger, ensuring transparency and immutability of data. The blockchain technology revolutionized the concept of trust by eliminating the need for intermediaries like banks or governments to verify and authenticate transactions, and instead, transactions are verified and added to the blockchain through a consensus mechanism, such as proof-of-work or proof-of-stake. This technology has wide-ranging applications in areas such as supply chain management, healthcare, finance, and more, with its attractive features of decentralization, security, and transparency offering industries the opportunity to improve efficiency, reduce costs, and enhance trust in their operations.