Module 1: Introduction to Bitcoin
2) Understanding Blockchain Technology
Blockchain technology forms the backbone of Bitcoin and many other cryptocurrencies. It is a distributed ledger system that records transactions across a network of computers in a secure and transparent manner. Each block in the blockchain contains a cryptographic hash of the previous block, creating a chain of blocks that are immutable and resistant to tampering. This decentralized architecture eliminates the need for intermediaries, making transactions more efficient and secure.