What is Block-Chain and how it's work?

Blockchain is a digital ledger system that records and stores information in a secure and permanent manner. It is a decentralized, distributed, and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively without the alteration of all subsequent blocks.

Blockchain technology works by using cryptographic functions to allow each participant in the network to securely store and transact data. Transactions are grouped together in blocks, which are then linked together, forming a chain of blocks. This chain of blocks is then replicated across the network of participants. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

The process of verifying transactions is known as mining. Miners use their computing power to solve mathematical problems and get rewarded with transaction fees for verifying transactions. The miners then add the verified transactions to the Blockchain, which is updated in near real-time.

Blockchain technology can be used for a variety of applications such as cryptocurrency, digital identity, smart contracts, supply chain management, and more. It also has the potential to create a more secure, transparent, and efficient business environment. Blockchain technology can increase trust and reduce the cost of doing business by eliminating the need for third-party intermediaries.