What is Blockchain?
Blockchain is defined as a ledger of decentralized data that is securely shared.
A blockchain system prevents fraud because data can’t be altered without the permission of several parties.
If someone tries to alter data, all participants will be alerted, and will know who made the attempt.
Think of blockchain as a historical record of transactions…
…where each block is “chained” to the previous block in a sequence.
This system promotes trust, accountability, transparency, and security.
The use of blockchain technology is expected to increase significantly in the next few years…
…because it eliminates siloed data; offers a high level of security; reduces the need for third-party intermediaries; and creates real-time, tamper-proof records.
To learn more, check out our Blockchain for Dummies Guide
