Blockchain

byPaytm Editorial TeamLast Updated: July 31, 2025

Definition

Blockchain is a type of decentralized digital ledger that stores data in a secure, transparent, and tamper-proof way across multiple computers.

How It Works

Each block contains transaction data and is linked to the previous one. Once recorded, data cannot be altered, ensuring transparency and trust.

Use in Finance

Used in cryptocurrency, smart contracts, and cross-border payments, blockchain reduces fraud and improves transaction speeds.

You May Also Like

BNPL (Buy Now, Pay Later)Last Updated: July 31, 2025

Meaning BNPL stands for Buy Now, Pay Later. It is a short-term credit facility that allows customers to…

Mobile BankingLast Updated: August 12, 2025

Definition Mobile Banking is a service that allows users to perform banking transactions using a mobile phone. It…

UPI Transaction OTPLast Updated: September 16, 2025

Definition UPI transaction OTP is a one-time password generated for verifying a UPI transaction. It provides an additional…