Blockchain is a public record of transactions, maintained by thousands of computers at the same time.
How it works
- Each transaction is grouped into a block.
- Blocks link together in sequence, forming a chain.
- Once confirmed, a block cannot be changed.
What this means for you
- Transparency: anyone can check a transaction by its code (hash).
- No going back: a confirmed transaction cannot be undone. That's why checking the address is so important.
- Confirmations: the network takes time to confirm. That's why a crypto contribution can take a few minutes.
Summary
- Blockchain is a public record that cannot be changed.
- A confirmed transaction cannot be reversed: check before sending.