Blockchain is a decentralized and distributed ledger system that records transactions across multiple computers. Each transaction is grouped into blocks, secured using cryptographic techniques, and linked to the previous block, forming a chain. This structure ensures transparency, security, and immutability. Beyond cryptocurrencies like Bitcoin, blockchain has applications in supply chain management, voting systems, healthcare for secure patient records, and smart contracts that execute automatically when conditions are met. It has the potential to revolutionize industries by enhancing efficiency and trust.
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Blockchain technology works by recording transactions in a decentralized, immutable ledger distributed across a network of computers. It uses cryptographic techniques to ensure data integrity and security, with blocks of information linked sequentially to form a chain. Beyond cryptocurrencies, blockchain applications include supply chain management, secure digital identity, healthcare data management, voting systems, intellectual property protection, and smart contracts, offering transparency, efficiency, and trust across industries.
Blockchain technology works by creating a decentralized, distributed ledger that securely records transactions across multiple computers, making it transparent, tamper-resistant, and immune to central authority control. Each transaction is added to a "block," which is then linked to the previous one, forming a chain. Beyond cryptocurrencies, blockchain has applications in supply chain management, where it enhances transparency and traceability of goods, in healthcare for securely storing patient data, and in voting systems to ensure secure and transparent elections. It can also be used in contracts (smart contracts) and intellectual property protection, offering security and efficiency in various industries.