Blockchain is a highly secure and open technology for storing and organizing data. Furthermore, blockchain is also the technology behind Bitcoin and other digital currencies. As a digital technology, blockchain requires a server or network to operate. Unlike traditional networks that use centralized servers, blockchain operates using a decentralized system. This system is considered more secure and transparent because each network maintains a copy of the data.

In a decentralized system, each connected network can function as a central server. This is possible because data across networks is interconnected. Therefore, a decentralized system allows for increased overall reliability and security.

With blockchain technology, we can only add data, not change or delete it; however, it makes it immutable. To control a blockchain network, one must simultaneously control more than 50% + 1% of the hashing power. This phenomenon is known as a 51% attack. This attack is extremely difficult and not easily carried out.

Blockchain technology is also transparent; anyone can view the data stored along the chain back to its origin, and privacy is maintained because it implements the principle of anonymity. Identity on the blockchain is only an address, meaning it is anonymous. However, every transaction can be easily traced.

Besides being secure, blockchain technology also makes transactions more efficient and eliminates the need for third parties to control them. Therefore, transaction costs are lower and processes are faster. Blockchain technology can also protect sensitive data from cyberattacks and create space for the development of decentralized applications, such as secure voting systems and product authenticity tracking. Therefore, blockchain technology will revolutionize the financial, logistics, healthcare, and supply chain industries in the future.