A system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network.

Why it matters

Blockchain technology offers enhanced security through its decentralized and cryptographic structure, making alterations and fraud more difficult. Its transparent nature provides all participants with access to the complete history of transactions, fostering trust and accountability. However, the implementation of blockchain can be complex and energy-intensive, and its decentralized nature may present challenges in regulation and compliance.