Blockchain is a technology for storing and transmitting information without a central control body. Technically, it is a distributed database in which information sent by users and internal connections are verified and grouped at regular intervals into blocks, all secured by cryptography, thus forming a chain.
Each new block created is linked to the previous block in the chain, making blockchain data resistant to retroactive modifications. One of the fundamental properties of blockchain is its decentralized nature: instead of relying on a central server or a single authority, transaction management and validation are performed by a distributed network of computers, called nodes.
Blockchain is best known as the underlying technology of cryptocurrencies like Bitcoin, but its applications extend far beyond that. It can be used for any type of exchange, agreement or information tracking. Application areas include voting systems, identity management, land registries, food traceability and more.
The preferred advantage for users is transparency: every transaction on the chain is visible to all users and cannot be modified once validated. This feature ensures enhanced security and data immutability, making blockchain a preferred technology for operations requiring reliability and transparency.
Blockchain is considered a new way of thinking about data governance and economic system organization, with the potential to transform many sectors due to its ability to ensure the integrity and security of information without the need for a trusted third party.