Blockchain technology has gained significant attention in recent years for its potential to revolutionize various industries. Understanding what blockchain is and its importance can help individuals and businesses leverage its benefits effectively.
Definition of Blockchain Technology
Blockchain is a decentralized, digital ledger that records transactions across multiple computers. Each transaction, or block, is linked to the previous one, creating a chain of information. This technology ensures transparency, security, and immutability, as every participant can verify transactions without relying on a central authority.