1. Blockchain is a digital ledger that records transactions.
2. Each transaction is verified by a network of computers called nodes.
3. Once verified, the transaction is added to a block.
4. Each block contains a unique code called a hash.
5. The hash of each block is linked to the hash of the previous block, creating a chain.
6. This chain of blocks is what gives blockchain its name.
7. The chain is distributed across the network of nodes, making it difficult to tamper with.
8. Transactions are transparent, but the identity of the parties involved is kept private.
9. Blockchain technology has many potential uses beyond cryptocurrencies, such as supply chain management and voting systems.
10. To incentivize nodes to verify transactions, they are typically rewarded with cryptocurrency.