BLOCKCHAIN

TECHNOLOGY
 Transparency and Security

Decentralisation
Cryptocurrencies

Smart Contracts

What is Blockchain
Technology?
It can easily be described by adjacent 5
points. Digital Ledger
 Decentralisation
Unlike traditional ledgers controlled
by a central authority (like a bank or
a government), blockchain operates
on a decentralized network.

This means there's no single entity

in charge. Instead, many computers
(nodes) around the world maintain
the network, making it more secure
and transparent.
 Digital Ledger
In this digital ledger, transactions
or data are stored in blocks, just
like pages in a physical ledger.
Each block contains a batch of
transactions or information. What
makes blockchain unique is that
once a block is filled with data,
it's linked to the previous block,
forming a chain. Hence, the term
"blockchain."
 Smart Contracts
Smart contracts are self-executing
contracts with predefined rules and
conditions written directly into code.
Once deployed on a blockchain
network, they automatically execute
when these conditions are met,
without the need for intermediaries
or manual intervention. This
automation streamlines processes,
reducing the time and resources
required to fulfill contractual
obligations.
Transparency and Security
Once a block is added to the chain, it's
difficult to alter its content. This makes
blockchain tamper-proof and secure.
Also, all transactions recorded on the
blockchain are visible to anyone with
access to the network.
This means that participants can view
the entire transaction history, making it
transparent and accountable.

Blockchain networks rely on consensus

mechanisms, such as Proof of Work
(PoW) or Proof of Stake (PoS) which
require network participants to agree on
the validity of transactions, making it
difficult for malicious actors to
manipulate the system.
 Cryptocurrencies

Blockchain technology records and

confirms cryptocurrency trades.

A blockchain collects and stores the

information when you buy, sell, or
exchange cryptocurrency.
This information stays in a secure
location that’s not under a
centralized government overseeing
or controlling the cryptocurrency
market.