Blockchain
A distributed, immutable ledger that records transactions across a network of computers using cryptographic linking.
In-Depth Explanation
Blockchains chain blocks of transactions together using cryptographic hashes—each block references the previous, making history tamper-evident. Consensus mechanisms (PoW, PoS) determine who can add blocks. Blockchains enable trustless coordination but trade off scalability and efficiency for decentralization and security.
Related Terms
Consensus Mechanism
The method by which a blockchain network agrees on the current state of the ledger and validates new transactions.
Hash
A fixed-size output produced by a cryptographic function that uniquely represents input data.
Distributed Ledger
A database shared and synchronized across multiple locations, institutions, or geographies without central administration.
More in Infrastructure
View all →Gas Fees
Transaction fees paid to validators/miners for executing operations on a blockchain.
Gwei
A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.
Layer 2
L2Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.
Layer 1
L1The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.