What is Blockchain?
Blockchain is a decentralized, distributed ledger that records transactions between two parties efficiently and in a verifiable and permanent way.
This is not something that is easily understood in one go. So, the best way to understand it is by looking at the various use cases of blockchain.
The use cases of blockchain are diverse. It can be used in banking, healthcare, supply chain management, etc.
Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized
consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records,
and other records management activities, such as identity management, transaction processing etc.