Blockchain: definition and meaning
A blockchain is a shared database that records transactions in linked blocks. Thousands of computers keep copies, so no single party controls it.
Why it matters
Because records are hard to alter, blockchains let strangers agree on who owns what without a bank in the middle.
Related terms
- Consensus mechanism
A consensus mechanism is the set of rules a blockchain uses so participants agree on which… - Node
A node is a computer that runs blockchain software and keeps a copy of the ledger.… - Smart contract
A smart contract is a program stored on a blockchain that runs automatically when its cond…
Guides that explain more
Educational content only, not financial advice.