Introduction to Blockchain

1. What is Blockchain?

Blockchain is a distributed ledger technology that securely records transactions across many computers in such a way that the registered transactions cannot be altered retroactively. This ensures the integrity and security of data.

Important: Blockchain operates on a peer-to-peer network, eliminating the need for intermediaries.

2. How Blockchain Works

The process of how blockchain works can be visualized in the following steps:


graph TD;
    A[Transaction Initiation] --> B[Transaction Verification];
    B --> C[Transaction Validation];
    C --> D[Add to Block];
    D --> E[Block Added to Chain];
    E --> F[Transaction Complete];

3. Key Features of Blockchain

Decentralization
Transparency
Immutability
Security

4. Applications of Blockchain

Blockchain technology has various applications, including:

Cryptocurrency transactions (e.g., Bitcoin, Ethereum)
Supply chain management
Smart contracts
Healthcare records management

5. FAQ

What is a blockchain?

A blockchain is a distributed database that maintains a continuously growing list of records, called blocks, linked together using cryptography.

How secure is blockchain?

Blockchain technology is considered secure due to its decentralized nature and cryptographic techniques, making it resistant to fraud and hacking.

Can blockchain be hacked?

While the blockchain itself is secure, applications built on top of it, such as wallets and exchanges, may be vulnerable to hacking.