2 Understanding Blockchain Technology

In our journey into the world of cryptocurrency, the foundation lies in understanding blockchain technology. It’s essential for grasping how cryptocurrencies function, ensuring security, and maintaining transparency.

What is Blockchain?

A blockchain is a decentralized and distributed digital ledger that records transactions across many computers. This technology ensures that no single entity has control over the entire chain, making it resistant to fraud and hacks. Each transaction is grouped into a block, which is then linked to the previous block, forming a chain.