Blockchain is a decentralized and collaborative network of nodes, or computers, working together to maintain and verify a record of transactions. Each node is equal to the others, eliminating the need for intermediaries and allowing information to flow freely among them.
Imagine a digital ledger that is continuously updated and shared in real time among all participants in the network. Each transaction is recorded in a block, and these blocks are linked together through complex cryptographic algorithms. This creates an immutable chain of information, where each block contains a set of verified transactions sealed in time.
Once information is recorded in a block and added to the chain, it cannot be altered or erased. This provides high security and transparency, as each participant can verify transactions and their history without fear of manipulation.
A noteworthy aspect is that the Blockchain operates based on consensus. Before a transaction is accepted and added to the chain, the majority of nodes must agree that it is valid. This ensures greater trust in the integrity of records and prevents any attempts at fraud.
In the world of cryptocurrencies, the Blockchain plays a crucial role in maintaining a secure and verifiable record of all transactions.