What is Blockchain? | KarmaChain

Blockchain is a distributed, immutable ledger technology that records transactions across many computers. Each 'block' contains a batch of transactions, a timestamp, and a cryptographic hash of the previous block, forming a 'chain'. This decentralized structure makes it resistant to modification, as altering one block would require altering all subsequent blocks and gaining consensus from the majority of the network. Initially conceived for Bitcoin by Satoshi Nakamoto in 2008, blockchain has evolved beyond cryptocurrencies to power diverse applications in supply chain management, digital identity, and decentralized finance (DeFi). Its core innovation lies in enabling trust and transparency in peer-to-peer interactions without a central authority.