Blockchain

A type of decentralized database whose records are stored in digital form in computers belonging to a given network. Blockchain technology is one of the safest forms of data storage because a record cannot be removed or altered once it enters the network.

Blockchain collects information in so-called blocks or "sets" of information. Each block has a specific capacity. Once a block is filled, it is attached to a previously filled block, creating a so-called blockchain. This type of structure is also distinguished by timestamps added to each block, making it possible to determine precisely when a given block was placed in the chain.

Blockchain is used for many purposes, one of the most popular being the authentication of online transactions conducted using cryptocurrencies. Gradually, however, the technology is finding more and more applications, such as storing company records, validating legal contracts, or authenticating processes. One of the advantages of the technology is its transparency – any user of the network can see its elements.