What is network chain in crypto?

Blockchain technology represents a groundbreaking advancement in the realm of digital record-keeping. It operates as a decentralized ledger, eliminating the need for a central authority to oversee transactions.

This network of computers interconnectedly maintains the ledger, ensuring that all recorded data is both secure and accessible to authorized parties. The transparency of blockchain stems from its design, where each participant can view the transactions but cannot alter them.

The immutability of blockchain is a cornerstone of its reliability. Once a block of data is added to the chain, it becomes impossible to modify or delete it. This feature safeguards against fraud and ensures that records remain accurate over time.

Resistance to tampering is another critical aspect of blockchain technology. The intricate cryptographic mechanisms embedded within the system make it virtually impossible for unauthorized individuals to alter or manipulate the ledger.

Each block within the blockchain contains a specific set of data, typically related to a transaction or event. These blocks are arranged in a chronological order, forming a continuous "chain" that documents the history of all recorded events.