Block Chain Technology

Blockchain operates on a decentralized network of computers (nodes) where each node maintains a copy of the entire blockchain ledger. This eliminates the need for a central authority or intermediary to validate transactions, making the system more resilient to tampering and censorship.

Blockchain networks can be permissioned (private) or permissionless (public). Permissioned blockchains restrict access to authorized participants, making them suitable for enterprise applications requiring privacy and control. Permissionless blockchains, on the other hand, are open to anyone to participate, promoting transparency and decentralization.

Security: Blockchain provides a secure and tamper-evident record of transactions, reducing the risk of fraud, manipulation, and data breaches. Transparency: Blockchain offers transparency and auditability of transactions, enabling stakeholders to verify the integrity and authenticity of data.