What is Blockchain Technology? – A Simple Explanation

Blockchain technology is a digital system used to record transactions securely and transparently.

It works like a shared digital ledger that is maintained by multiple computers around the world.

Each transaction is stored in a block, and these blocks are linked together in a chain.

Once data is added to the blockchain, it cannot be easily changed or deleted.

This makes blockchain highly secure and trustworthy.

Blockchain does not rely on a central authority like a bank or government.

Instead, it uses decentralization to verify and record transactions.

This technology is the foundation of cryptocurrencies like Bitcoin and Ethereum.

Blockchain is also used in finance, supply chains, healthcare, and digital identity systems.

It helps reduce fraud, increase transparency, and lower transaction costs.

Overall, blockchain technology is transforming how digital trust is created.$BTC $SOL $BNB #USNonFarmPayrollReport #BTCVSGOLD #blockchain