Ultron Foundation Understanding Blockchain Technology

Ultron Foundation14 Feb, 2025Technology

Blockchain technology functions as a distributed ledger that records all transactions across a network of computers. Unlike traditional databases, which are centralized and vulnerable to hacking or fraud, blockchain employs a decentralized approach. This means that each participant in the network holds a copy of the entire ledger, ensuring transparency and accountability. When a transaction occurs, it is verified by network participants, or "nodes," before being added to the chain of blocks, creating an immutable record.