Blockchain is a decentralized, public, digital ledger that securely records transactions and the tracking of assets within it’s network of peer-to-peer computers. Transaction information is collected and encrypted into a file called a Block. Each Block of data is linked together, creating a secure Chain that cannot be altered. This advanced technology is what powers cryptocurrencies and allows the network to operate without any central authority.
While initially developed for cryptocurrencies, blockchain technology has now gained widespread adoption among businesses worldwide for purposes such as order tracking, payment processing, data storage, supply chain management, and more.