Blockchain

What is blockchain?

The blockchain is a decentralized, digital database that stores information in a chronological and unchangeable sequence. Each block contains a list of transactions or data and is characterized by a cryptographic signature linked to the previous block. Blockchain technology is based on a distributed network in which no central authority is required. Each transaction is verified by several participants in the network, which ensures integrity and security.

Areas of application and advantages

The best-known application of blockchain technology is cryptocurrency such as Bitcoin or Ethereum. In addition, blockchain is used in areas such as Supply chain management, digital identities, reconciliation systems and smart contracts used. The most important advantages include transparency, counterfeit protection and the possibility middlemen to eliminate them. Companies and governments are increasingly relying on blockchain to automate processes, reduce costs and increase security.