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What is blockchain

What is blockchain?

Blockchain can be described as a distributed ledger. This technology allows transactions to be performed transparently yet maintaining privacy. Everyone participating in the network has a copy of the transactions that are performed, so it offers a stronger measure of protection against fraud or manipulation. But because they cannot tell who the originators or recipients of the transactions are, privacy is preserved.

Blockchain technology is what enables cryptocurrencies like Bitcoin and Ethereum to function. However, cryptocurrencies are not the only application of blockchain technology.

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