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A blockchain is a distributed ledger technology that records transactions across multiple computers in a way that ensures the data is secure, transparent, and immutable. Each transaction is stored in a block, and these blocks are linked together in a chain, hence the name "blockchain"12.
Key Principles of Blockchain
Distributed Ledger Technology: All participants in the network have access to the distributed ledger and its immutable record of transactions. This eliminates the need for a central authority and reduces the risk of data tampering1.
Immutable Records: Once a transaction is recorded in a block, it cannot be altered or deleted. If an error occurs, a new transaction must be added to correct it, ensuring transparency and traceability1.
Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code. They automatically execute and enforce the terms of the contract when predefined conditions are met1.
How Blockchain Works
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Blockchain is ideal for delivering that information because it provides immediate, shared, and observable information that is stored on an immutable ledger that only permissioned network …
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2024年6月6日 · Put simply, blockchain is a technology that enables the secure sharing of information. Data, obviously, is stored in a database. Transactions are recorded in an account book called a ledger.
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