Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. Blockchain is made up of a chain of blocks, where each block contains a list of transactions and a unique identifier (hash) of the previous block. This ensures the integrity of the data. Blockchains are decentralized networks where data is distributed across multiple nodes (computers) in a network. There is no central authority or single point of control, making them resistant to censorship and tampering. Blockchain is stored on thousands of computers (nodes) around the world. Each node has a copy of the entire blockchain, which increases its resistance to outages and attacks.
