Explanation of the concept: What is blockchain technology? ⛓️
Have you heard of "blockchain" but don't know what it actually is? Imagine it as a huge digital ledger, but not owned by one person, rather by thousands of people around the world.
How does it work?
Every transaction (like transferring a digital currency) is recorded in a "block". Once this block is filled, it is linked to the block that preceded it, forming a "chain". This is what gives it the name "blockchain".
What are its features?
Decentralization: There is no central bank or government controlling it, making it more resistant to censorship.
Transparency: Every new block added to the chain is visible to everyone, so data cannot be manipulated.
Security: Since the data is distributed across thousands of devices, it is almost impossible to hack or alter it.
In short, blockchain is the technology that made currencies like Bitcoin possible. It is not just currencies, but a revolutionary new system for exchanging information and value in a secure and transparent way.