In recent years, the term blockchain has ceased to be exclusive to the world of cryptocurrencies and has started to appear in reports, conversations about technology and even in government and company proposals.
But even with so much exposure, many people still have doubts about what this technology really means.
But what exactly is blockchain and why is this technology considered “revolutionary”?
So in this article, you'll understand the concept, how it works in practice and where it's being used beyond the world of cryptocurrencies.
In short, Blockchain literally means “chain of blocks”.
But in practice, it is a decentralized digital registry technology.
Imagine a cash book that records all the transactions made, only this book is not kept in a single place or in the hands of a single person.
It is spread across several computers around the world, and every time new information is added, everyone receives an updated copy.
These records are organized into blocks, and each block carries information and a unique code called a hash.
When a new block is generated, it is linked to the previous block, creating a chained sequence, hence the name blockchain, or “chain of blocks".
This structure prevents data from being altered or deleted, guaranteeing security and transparency.
In short, blockchain is a type of public, immutable and accessible database where a distributed network of computers verifies the data.
To understand this better, let's use the example of a cryptocurrency transaction.
So imagine that Mary wants to send 0.5 Bitcoin to John.
This process works more or less like this:
All this happens without the need for a bank or a central authority.
A collective and automatic system carries out the control, using advanced cryptography.
Various sectors, not just digital currencies, can apply this same principle.
Blockchain can be used to track products in the supply chain, register contracts, validate diplomas, guarantee the authenticity of works of art and much more.
The blockchain has three main characteristics that make it interesting:
Unlike traditional systems such as banks or company servers, blockchain works on a distributed network.
This prevents a single entity from controlling or manipulating the data.
Anyone can access all the transactions, which are recorded.
This doesn't mean that anyone exposes personal data, but rather that anyone can open and audit the network's history.
Most of the network must agree to change the information after registration.
This virtually eliminates fraud and guarantees data integrity.
These factors make blockchain useful in situations that require trust, such as digital voting, smart contracts (smart contracts) and digital identity.
Although it became famous with Bitcoin, blockchain goes far beyond digital currencies.
Here are some real uses:
If you want to explore the world of blockchain, there are apps that make it easy to buy cryptoassets, participate in decentralized projects or just experiment with the technology.
Here are some examples:
One of the most popular apps for securely storing and trading cryptocurrencies.
Digital wallet focused on Ethereum and other compatible blockchains.
Allows connection to decentralized apps (dApps) directly from the browser or cell phone.
A browser that eliminates advertisements, guarantees the security of your privacy and comes with a built-in cryptocurrency wallet.
Users can earn BAT tokens by browsing.
App that mixes blockchain with physical activity.
Users earn tokens by walking or running in NFT sneakers.
In conclusion, Blockchain is not just for those who understand technology or invest in cryptocurrencies.
In short, it's an innovation that is already changing many sectors, from finance to health to art and entertainment.
So knowing what it is and how it works can help you better understand the digital world that is taking shape.
What's more, you can test this technology straight from your cell phone.