The Evolution and Impact of Blockchain Technology
The Evolution and Impact of Blockchain Technology Introduction Blockchain technology is redefining the way digital transactions are recorded, verified, and secured. It is a decentralized, distributed ledger system initially introduced with Bitcoin in 2009 by Satoshi Nakamoto. This innovative technology ensures transparency, security, and immutability, making it one of the most disruptive innovations in the digital era. Over the years, blockchain has evolved beyond cryptocurrencies and found applications in multiple industries, including finance, healthcare, supply chain management, and governance. What is Blockchain Technology? Blockchain is a distributed digital ledger that records transactions across multiple nodes in a peer-to-peer (P2P) network. Each transaction is grouped into a block, and once verified, it is added to a chain of previous transactions, forming an immutable data structure. The decentralized nature of blockchain eliminates the need for intermediaries, ensuring tr...