What is blockchain technology and how does it work?

Blockchain is a decentralized and distributed digital ledger technology that allows data to be stored in a secure, transparent, and tamperevident manner. A blockchain is essentially a chain of blocks, where each block contains a list of transactions that have been verified and added to the chain by a network of computers.

Every block in the chain contains a unique cryptographic code called a "hash" that is generated based on the contents of the block. Once a block is added to the chain, it cannot be altered without changing the hash of all subsequent blocks in the chain, making it virtually impossible to tamper with the data stored on the blockchain.

Blockchains can be public or private, with public blockchains accessible to anyone and private blockchains used by specific organizations or groups. The most wellknown blockchain is the Bitcoin blockchain, which is used to record transactions of the cryptocurrency Bitcoin. However, blockchain technology has since been adapted for use in a wide range of applications beyond cryptocurrencies, including supply chain management, digital identity verification, and voting systems.