A blockchain is a decentralized digital ledger that records data in linked blocks, secured with cryptography. Each block is connected to the previous one, forming a chain that is resistant to tampering and fraud.

The idea dates back to the early 1990s with the work of Stuart Haber and W. Scott Stornetta, but it gained prominence with the launch of Bitcoin in 2009 by Satoshi Nakamoto. Blockchain became the foundation for cryptocurrencies, enabling borderless and thrustless transactions without intermediaries.

In a blockchain, transactions are validated by a peer-to-peer network of computers called nodes, each maintaining a copy of the ledger. Bitcoin’s blockchain, for example, uses the Proof of Work (PoW) consensus algorithm, which ensures network security, prevents double-spending, and rewards miners for validating transactions.

Beyond cryptocurrencies, blockchain has broader applications in healthcare, supply chain, insurance, and IoT, offering transparency, data integrity, and cost reduction.

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