Blockchain is a distributed database that allows for secure, transparent and tamper-proof storage and transfer of data. It solves the problem of double-spending, which is when someone tries to spend the same digital asset twice. By using a blockchain, every transaction is recorded on a public ledger that can be verified and trusted. This allows for a secure and transparent way to transfer data that cannot be tampered with.
Other related questions:
Q: What is blockchain actually useful for?
A: There are a number of potential uses for blockchain technology. For example, it could be used to create a decentralized database that is secure and tamper-proof. Additionally, blockchain could be used to create a decentralized marketplace or exchange.
Q: What is the biggest problem with blockchain?
A: The biggest problem with blockchain is its scalability.