📝Blockchain is a decentralized and distributed digital ledger technology that records transactions securely across multiple computers. Here’s how it works:

1. Structure of a Blockchain

A blockchain consists of blocks that contain transaction data.

Each block has a unique identifier (hash), a reference to the previous block’s hash, and a timestamp.

Blocks are linked in a chain, ensuring that data cannot be easily altered.

2. How Transactions Work

1. A user requests a transaction (e.g., sending cryptocurrency).

2. The transaction is broadcast to a network of nodes (computers).

3. Nodes validate the transaction using a consensus mechanism (like Proof of Work or Proof of Stake).

4. Once validated, the transaction is grouped with others into a block.

5. The block is added to the blockchain, becoming permanent and tamper-proof.

3. Security & Decentralization

Immutability: Once recorded, data cannot be changed without altering all following blocks, which is nearly impossible.

Transparency: Anyone in the network can verify transactions.

Decentralization: No single entity controls the blockchain, making it resistant to hacks or fraud.

4. Use Cases

Cryptocurrencies (e.g., Bitcoin, Ethereum)

Smart Contracts (self-executing contracts without intermediaries)

Supply Chain Tracking

Identity Verification