Blockchain technology is revolutionizing the way we think about transactions, trust, and transparency. It serves as the backbone of cryptocurrencies, ensuring secure, decentralized, and tamper-proof exchanges of value. Let’s break it down step by step and explore why blockchain matters.

What is Blockchain?

At its core, blockchain is a distributed ledger technology that records transactions across multiple computers. These records, once registered, cannot be altered retroactively, ensuring both integrity and security without relying on a central authority like a bank or government.

To put it simply, a blockchain is like a digital notebook shared across a group of people. Everyone has the same copy, and no one can change a page once it’s written.

How Does Blockchain Work?

The Structure of a Blockchain

A blockchain is made up of blocks, and each block contains two main parts:

1. Block Header (metadata about the block):

   • Previous Block Hash: Links the block to the one before it, creating a chain.

   • Timestamp: Marks the time the block was created.

   • Nonce: A unique number miners use to validate the block.

   • Merkle Root: A single hash summarizing all the transactions in the block.

2. Block Body: Holds the actual list of transactions.

   
   

Nodes: The Backbone of the Network

A blockchain…