Blockchain is a distributed system that ensures trust among parties without the need for intermediaries from "summary" of Blockchain Technology Explained by Alan T. Norman
Blockchain, at its core, is a distributed system. This means that rather than relying on a central authority to validate transactions, it allows multiple parties to come to a consensus on the validity of each transaction. By distributing the power to validate transactions among a network of nodes, blockchain ensures that no single entity can manipulate the data for their own gain. One of the key benefits of this distributed system is that it fosters trust among parties. Because each transaction must be validated by multiple nodes on the network before it can be added to the blockchain, parties can be confident that the information on the blockchain is accurate and tamper-proof. This trust is crucial in many industries where parties may not have a pre-existing relatio...
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