What is Blockchain?
Blockchain is a decentralized distributed ledger technology. Simply put, it is like a “ledger” that everyone can jointly maintain and view, but no single organization or individual can tamper with at will.

Its core features include:

Distributed Storage: Data is not stored on a single server but is spread across multiple nodes in the network, with each node holding a complete copy of the ledger.

Decentralization: It does not rely on centralized institutions like banks or companies; the data is maintained collectively by the entire network.

Immutability: Once data (a block) is written onto the chain, it is very difficult to modify or delete, as changes require the approval of the majority of nodes across the network.

Transparency and Traceability: All transactions are visible to network participants and can be traced back to their source.

Consensus Mechanism: Specific algorithms (such as Proof of Work (PoW) or Proof of Stake (PoS)) ensure that different nodes reach agreement on the ledger.

Applications

Blockchain is not only the underlying technology for cryptocurrencies like Bitcoin and Ethereum, but it can also be applied in supply chain finance, smart contracts, the Internet of Things (IoT), identity verification, and other fields.