Blockchain technology has been making waves in recent years, with many experts hailing it as the next big thing in the world of technology. But what exactly is blockchain and how does it work? In this article, we will take a closer look at the basics of blockchain and distributed ledger technology, and explore how it is being used in various industries.
Blockchain is a digital ledger that is used to record and verify transactions across a network of computers. It is called a distributed ledger because the data is stored across multiple computers, rather than in a central location. This makes it extremely difficult to hack or tamper with, as any changes to the data must be agreed upon by the majority of the network.