Blockchain, the fundamental technology behind Bitcoin and other cryptocurrencies, is also used in many applications. Some critical features of Blockchain, that is attracting many, are- decentralization, transparency and immutability. Especially in the current age, where technology is taking over our lives, people craving for more independence and ownership, not being in a position to trust major corporations (and also government) and lot many factors… All these are contributing to huge success of Blockchain, decentralized finance applications, etc.

Blockchain is not one single technology, but includes a collection of various things, that constitutes to the overall solution, like- peer-to-peer technology, cryptography and consensus protocols.

So, Blockchain is a-

distributed ledger technology (DLT) that allows data to be stored globally on thousands of servers — while letting anyone on the network see everyone else’s entries in near real-time. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.

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