What is a bitcoin block chain?
Could you elaborate on the concept of a Bitcoin block chain? In simple terms, how does it function as the underlying technology that powers Bitcoin transactions? What are the key components that make up a block in the chain, and how are they interconnected? Furthermore, what role does the block chain play in ensuring the security and transparency of Bitcoin's decentralized network? Understanding the block chain is crucial for grasping the fundamentals of Bitcoin, so I'd appreciate a concise yet comprehensive explanation.