What is Blockchain? (Simple Explanation)

Definition: Imagine Blockchain as a giant, shared digital ledger. This ledger isn\'t owned by one person or a single bank; instead, every computer in the network has a copy, and everyone can view it, but no one can modify or delete it on their own.

How it Works: Every new transaction is recorded in a \'block\'. This block is sealed with a unique secret code (encryption) and then linked to the block before it, forming a stable \'chain\'. This linkage ensures absolute security because changing even one page in this giant ledger is instantly detected by all other computers in the network.