Blockchain Explained: What is Blockchain Technology?

Blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as "completed" blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

A blockchain consists of numerous blocks of data.
The data that is stored on a blockchain is distributed across the network of computers that make up the blockchain. This means that no single entity can control or tamper with the data. This makes blockchain a very secure way of storing data.

Blockchain is often referred to as a Distributed Ledger Technology (DLT). This is because each computer or 'node' in the network has a copy of the ledger. This makes it very difficult for anyone to tamper with the data.

Great explanation! I completely agree that blockchain's decentralized nature and use of cryptographic hashes make it a highly secure way to store data. Its potential applications extend far beyond cryptocurrency, don't you think?