Glossary

Blockchain

Blockchain is a system for recording transactions or data across a network of computers in a way that ensures the security, transparency, and immutability of the data. Each record, grouped into blocks, is linked sequentially to previous blocks, forming a chain. This chain is stored across multiple computers making the blockchain secure, ensuring no single entity can alter the record without consensus of the network. Blockchain's key features include its resistance to data modification, its ability to provide a transparent transaction history, and its potential to eliminate the need for trusted third parties in many processes. This technology underpins cryptocurrencies like Bitcoin, but its applications extend to various fields such as supply chain management, voting systems, and secure healthcare data management.