Blockchain
A distributed, append-only ledger where data is stored in cryptographically linked blocks across multiple nodes.
Also: distributed ledger
Definition
A blockchain is a distributed ledger technology that stores data as a chain of cryptographically linked blocks, with each block containing a hash of the previous block, a timestamp, and transaction data. Blockchains are maintained by a peer-to-peer network and are designed to be tamper-resistant — altering a block requires changing all subsequent blocks on the majority of nodes. Public blockchains (Bitcoin, Ethereum) use consensus mechanisms like Proof of Work or Proof of Stake to validate transactions without a central authority.
Example
“When Bitcoin is transferred, the transaction is broadcast to thousands of nodes, validated by consensus, and permanently recorded in a new block linked to all previous transactions.”
Synonyms
- distributed ledger
- immutable ledger
- decentralized database
- chain of blocks
Antonyms / Opposites
- centralized database
- mutable database
Images
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Related Terms
- distributed-ledger
- smart-contract
- cryptocurrency
- consensus-mechanism