What is the Blockchain？

Blockchain is a decentralized distributed ledger technology that records and stores transaction information by dividing data into blocks and linking them sequentially to form a chain. Its key characteristics include:

1. Decentralization: No central authority controls the system, and each node holds a copy of the ledger.
2. Immutability: Once data is recorded, it cannot be altered or deleted, ensuring security and transparency.
3. Transparency: Transaction records are publicly accessible, guaranteeing openness.
4. Security: Cryptographic techniques and consensus mechanisms (such as Proof of Work (PoW) or Proof of Stake (PoS)) are used to validate transactions, preventing fraud.

Blockchain can be applied in areas such as cryptocurrency (e.g., Bitcoin), supply chain management, and smart contracts. It is considered a disruptive technology due to its high security and transparency.