What is a Blockchain? It is the question that many users ask me privately in my social networks, and sometimes, its terminology brings them extremely differential confusion and more if they are not associated with the field of cryptocurrencies or Web3. But today I will come to explain WHAT IS A BLOCKCHAIN and how its use creates a technological-social impact in this computerized and abundant world of digital systems.

In its most basic definition, a blockchain is a digital ledger of transactions that can be used to store information and accounting records in an incorruptible protocol. This means that any data stored there can never be modified and both the sender and receiver of that information can be viewed.

Each of these transactions has a timestamp associated with it and is linked to a user or node that, when several transactions are created, a block is created and each block is arranged chronologically in a chain one after the other as they are created, hence the name BLOKCHAIN (block chain).

Nodes are represented by computers or mobile devices (smartphones) used by users on the Internet between users connected to the same network, which contain all the transaction history on a particular blockchain.

To add a new block, all nodes in the network must verify it through a consensus protocol and, once added to the chain, the information cannot be modified or deleted, thus creating a reliable and transparent record of transactional information (Blockchain: Disruption, Value and Security, 2022).

Here, each node has its own copy of the ledger, and each time someone adds a new transaction, all copies of the ledger are updated, thus achieving an efficient and immutable record of data.

This is a very brief explanation and without much technicality about the blockchain concept, in a next article I will be bringing you what are its main applications and in which branches this technology is already being used to improve services. I would appreciate if you share this post with your friends so they can know about it and be aware of interesting content related to Web3, NFTs and cryptocurrencies, see you in a future post.