Introduction
Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a secure and transparent manner.
How Does Blockchain Work?
Blockchain works by creating a chain of blocks, where each block contains a list of transactions. These blocks are linked together in a chronological order to form a secure and immutable record of transactions.
Benefits of Blockchain
- Transparency
- Security
- Decentralization
- Immutability
Examples of Blockchain
Bitcoin and Ethereum are popular examples of blockchain technology used for peer-to-peer transactions and smart contracts.
Case Studies
Walmart uses blockchain to track the supply chain of their products, ensuring transparency and efficiency. IBM uses blockchain for cross-border payments, reducing transaction times and costs.
Statistics
According to a report by Deloitte, 84% of executives believe that blockchain is scalable and will achieve mainstream adoption in the near future.
