Understanding Blockchain

Blockchain technology is the foundation of cryptocurrencies. It's a distributed ledger system that records transactions across multiple computers. This decentralized nature ensures transparency, security, and immutability.  

Blockchain works by grouping transactions into blocks. These blocks are then added to a chain of previous blocks, creating a secure and tamper-proof record of transactions.

Beyond cryptocurrencies, blockchain has potential applications in various industries, including supply chain management, healthcare, voting, and identity management.