A shared, append-only digital ledger in which records are grouped into blocks that are cryptographically linked in sequence.
Each block in a blockchain contains a batch of transactions, a timestamp, and the cryptographic hash of the previous block. Because every block references the one before it, altering an old record would require recomputing every block after it and convincing the rest of the network to accept the change, which is designed to be impractical.
Public blockchains such as Bitcoin and Ethereum let anyone participate and verify the ledger, while private or permissioned blockchains restrict access to approved members, which some businesses use for supply chain tracking or settlement. Networks agree on the current state through consensus mechanisms like proof of work or proof of stake. Blockchains trade some speed and efficiency for transparency and resistance to tampering.
The first decentralized cryptocurrency, launched in 2009, which uses a public blockchain and proof of work to record transactions.
CryptocurrencyA digital currency secured by cryptography and typically recorded on a decentralized blockchain rather than issued by a central bank.
HashingTransforming data of any size into a fixed-length string, called a hash, using a one-way mathematical function.
Non-Fungible TokenA unique digital token recorded on a blockchain that represents ownership of a specific item, such as artwork, a collectible, or a ticket.
Proof of StakeA blockchain consensus mechanism in which validators lock up cryptocurrency as collateral to earn the right to propose and confirm blocks.
Smart ContractA program stored on a blockchain that automatically executes predefined actions when its conditions are met.
Web3A vision of an internet built on blockchains, where users own their data, identity, and digital assets rather than relying on central platforms.
Zero-Knowledge ProofA cryptographic method that lets one party prove a statement is true without revealing any information beyond the fact that it is true.
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A plain-English map of who regulates crypto in the US, from the SEC and CFTC to Treasury, bank regulators and states, plus where the GENIUS and CLARITY Acts stand.
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