Blockchain technology

Blockchain technology is a decentralized, distributed ledger that records transactions across a peer-to-peer network without the need for a central authority. Data is organized into "blocks" that are cryptographically linked in a chronological chain; because each block contains a unique hash of the previous one, the system is virtually immutable and tamper-proof. By utilizing consensus mechanisms like Proof of Work or Proof of Stake, the network ensures all participants agree on the state of the ledger, fostering transparency and trust. Beyond its origins in cryptocurrency, this technology is now widely used to streamline supply chains, secure medical records, and execute self-automated smart contracts.