About Blockchain

Blockchain Initially developed for Bitcoin, blockchain technology is finding new applications beyond cryptocurrency. Industries are adopting blockchain for its ability to provide transparency, enhance security, and reduce fraud. Uses include tracking the provenance of goods in supply chains, providing tamper-proof voting systems, and managing secure medical records. How Blockchain Works? Blockchain is a decentralized, distributed ledger that records transactions across a network of computers. It ensures that the data stored is immutable and transparent, making it a revolutionary technology for various industries . . Key Principles of Blockchain Facilitating a Transaction : When a new transaction is initiated, it is encrypted using public and private keys and then transmitted to the network . Verification of Transaction : The transaction is verified by a network of peer-to-peer computers (nodes) to ensure its validity, such as checking if the sender has sufficien...