Technology

Blockchain

A decentralized, distributed ledger technology (DLT) that cryptographically links data records (blocks) to create an immutable, transparent chain of validated transactions.

Blockchain is a decentralized, distributed ledger technology (DLT) that securely records transactions across a peer-to-peer network. Each data record, or *block*, is cryptographically linked to the previous one via a unique hash, ensuring chronological consistency and immutability. Once a transaction is validated by network consensus (e.g., Proof-of-Work or Proof-of-Stake), it is permanently added to the chain; no single entity can alter the record retroactively. This structure eliminates the need for a central authority (like a bank), driving trust and transparency across various applications: Bitcoin uses it for peer-to-peer currency, while enterprises (like IBM) leverage it for supply chain tracking and digital identity management.