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.

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