What is a blockchain?
Think of a blockchain as a shared notebook that thousands of people hold identical copies of. Every page is a block, and each page lists a batch of transactions. Before a new page is added, the network has to agree that it's valid.
Each new page also contains a unique fingerprint (called a hash) of the page before it. That links the pages into a chain. If someone tried to secretly change an old page, its fingerprint would change and break every link after it. Everyone else would notice immediately.
This gives blockchains three key properties:
- Decentralized: no single company or person controls the record.
- Transparent: anyone can inspect the history of transactions.
- Tamper-resistant: changing past records is extremely difficult.