# Blockchain By [Untitled](https://paragraph.com/@0x229ee1564a8628d3db6c0cd37a4f806861bc751a) ยท 2024-05-09 --- **What is blockchain?** * **Definition**: Blockchain is a decentralized and secure digital ledger that records transactions across a network of computers\[^8\]. It ensures transparency, immutability, and tamper resistance, making data manipulation difficult. * **Functionality**: Each transaction, or 'block', is securely linked to the previous one, forming a continuous chain of information\[^11\]. This distributed ledger eliminates the need for intermediaries like banks, enabling peer-to-peer transactions and reducing costs. * **Applications**: Beyond cryptocurrencies, blockchain technology has found applications in various industries such as supply chain management, healthcare, and finance\[^14\]. It offers enhanced efficiency, traceability, and decentralized solutions. * **Security**: Blockchain uses encryption to protect sensitive data, ensuring that transactions are secure and resistant to hacking\[^12\]. * **Decentralization**: Blockchain operates on a decentralized network, also known as a distributed-ledger technology (DLT), where there is no single authority overseeing transactions\[^13\]. --- *Originally published on [Untitled](https://paragraph.com/@0x229ee1564a8628d3db6c0cd37a4f806861bc751a/blockchain)*