What is blockchain?

Imagine a digital notebook that’s shared by many people, and every time someone writes in it, the information is locked in place and can't be changed. That’s essentially how blockchain works—it’s a secure, shared record of information that everyone can trust.

Here's a simple breakdown:

1. Digital Ledger: Blockchain is like a ledger (or list) that records transactions. But instead of being stored in one place, it’s spread across a network of computers. This makes it transparent and accessible to everyone involved.

2. Blocks and Chains: Each time something is added to the ledger (like a transaction or record), it’s grouped with other transactions into a "block." This block is then added to the chain of previous blocks, creating a blockchain. Each block is securely linked to the one before it, so the information is always accurate and traceable.

3. Secure and Unchangeable: Once something is written on the blockchain, it’s very hard to change. This is because the network of computers has to agree on any updates, which keeps the information secure and trustworthy.

4. Decentralized and Shared: No single person or company controls the blockchain; instead, it’s decentralized and maintained by many people across the globe. This means there’s no single point of failure, making it very secure.

In summary, blockchain is a safe, shared, and unchangeable way to record information that allows everyone to see what’s happening without worrying about trust. It’s the technology behind digital currencies like Bitcoin but is also used in many other areas, like securing data and tracking goods in supply chains.