Many people have heard of blockchain, but they don't know what it actually does. Today, let's break down this seemingly complex concept in the simplest way. What exactly is blockchain? Imagine you and your friends have an account. The traditional way is that neither of you trusts the other, so you need a third party (like a bank) to record this account. But blockchain operates differently — no third party is needed, and thousands of computers worldwide keep the records together. In other words, blockchain is a ledger system maintained collectively by numerous participants that cannot be tampered with. Why is it called "Blockchain"? The name reveals the principle behind it. This name is quite illustrative. Each transaction record is stored in a "block," just like a page in a ledger. When a page is filled, it forms a complete block. Then, all blocks are linked together in chronological order using cryptographic methods, forming a "chain."