Blockchain
A blockchain is a distributed digital ledger in which transactions are grouped into cryptographically linked blocks, making it very hard to alter earlier data without the rest of the network noticing
What it means, how it is used and where it comes up, with its related concepts.
What it is and how it works
It works like a shared account book: each participant keeps a copy and a consensus mechanism decides which blocks are added. This structure reduces the need for a central intermediary and leaves a verifiable history of changes.
Beyond cryptocurrencies, it has been tested for supply chain traceability, document certification and contracts that execute automatically (smart contracts). Not every blockchain is public: there are private or permissioned networks run by a group of organisations.
Its security is not absolute. It protects the integrity of what is recorded but does not guarantee that the data entered is true, and it may involve energy, scalability and governance costs worth weighing before adopting it.
Also known as
distributed ledger, DLT
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