What is blockchain technology?

Blockchain technology is a decentralized digital ledger that records transactions across a network of computers. It allows data to be stored in a secure, transparent, and tamper-proof way, making it ideal for applications such as cryptocurrencies, supply chain tracking, and smart contracts. Each block in the chain contains a number of transactions, and once recorded, the data in any given block cannot be altered without altering all subsequent blocks. This ensures trust and security without the need for a central authority.