Blockchain is a groundbreaking technology that has transformed the way we perceive and conduct digital transactions. At its core, a blockchain is a decentralized and distributed ledger that records transactions across a network of computers in a secure and transparent manner. It operates on a system of consensus, ensuring that all participants agree on the validity of transactions, thus eliminating the need for a central authority.

The blockchain consists of blocks, each containing a list of transactions, and these blocks are linked together in a chronological chain. One of the key features of blockchain is its immutability—once a block is added to the chain, it cannot be altered, providing a high level of security and trust in the integrity of the data.

Blockchain technology gained prominence primarily through its association with cryptocurrencies like Bitcoin. However, its applications extend far beyond digital currencies, encompassing industries such as finance, supply chain management, healthcare, and more. Smart contracts, self-executing contracts with the terms of the agreement directly written into code, are another aspect of blockchain that enhances automation and transparency in various processes.