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Blockchain

A decentralized, distributed ledger technology that records transactions securely and transparently across multiple computers.

Full Explanation

Blockchain is a technology that creates a permanent, tamper-proof record of transactions across many computers. Each "block" contains transaction data, and blocks are "chained" together chronologically. This makes blockchain secure and transparent - the data cannot be altered without recomputing all subsequent blocks. Blockchain powers cryptocurrencies and enables instant, borderless transfers without intermediaries.

Related Terms

Stablecoin

A cryptocurrency designed to maintain a stable value, typically pegged to a currency like USD or a basket of assets.

Frequently Asked Questions

Is blockchain safe?

Yes, extremely secure. The distributed nature and cryptography make it very hard to hack.

Can blockchain transactions be reversed?

Once recorded on blockchain, transactions are permanent and cannot be reversed.

How fast are blockchain transfers?

Varies by blockchain. Bitcoin: 10 minutes, Ethereum: 15 seconds, Solana: 400ms.

Are blockchain transfers private?

Addresses are pseudonymous but all transactions are publicly visible on the blockchain.