[{"data":1,"prerenderedAt":326},["ShallowReactive",2],{"api/learn-center-post-en-GB-what-is-a-blockchain":3,"en-gb/learn/blockchain/what-is-a-blockchain-en-GB-seo":57,"footer-en-GB":62,"navigation-en-GB-learn-center":235,"api/learn-categories-en-GB":286},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":39,"title":5,"formattedPublishedAt":50,"geofencings":51,"category":52,"pagination":54,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is a blockchain?","What is a blockchain? - Bitstamp Learn Center","Blockchain Technology Education - What is a blockchain, and how can it be used? - Learn more on the Bitstamp Learn Center",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/what_is_a_blockchainsvg_73c680d1ba_bd102dcc00.svg","image/svg+xml",".svg",192,108,"what_is_a_blockchainsvg_73c680d1ba.svg","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/blockchain/what-is-a-blockchain/","en",{"pathname":24,"locale":25},"/es/learn/blockchain/what-is-a-blockchain/","es",{"pathname":27,"locale":28},"/en-gb/learn/blockchain/what-is-a-blockchain/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/blockchain/","Blockchain technology",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-a-blockchain",false,"\u003Cp>A blockchain is an immutable, reliable and transparent technology for storing information, most often records of financial transactions. It functions like an ever-growing chain made of \u003Cstrong>\u003Ca href=\"/en-gb/learn/crypto-101/what-are-blocks-in-the-blockchain/\">blocks of data\u003C/a>\u003C/strong>.\u003C/p>\n",{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},[40],{"component":41,"props":42,"content":43,"secondaryContent":47,"ctas":48,"secondaryCtas":49,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":44,"width":45,"align":46},"\u003Cp>A blockchain is an immutable, reliable and transparent technology for storing information, most often records of financial transactions. It functions like an ever-growing chain made of \u003Cstrong>\u003Ca href=\"/en-gb/learn/crypto-101/what-are-blocks-in-the-blockchain/\">blocks of data\u003C/a>\u003C/strong>.\u003C/p>\n\u003Cp>New blocks are added to the end of the chain and cannot be changed after that. Everything that is embedded deeply enough in a blockchain is there to stay. You can’t manipulate it, you can’t delete it, and everyone can see the transactions. The users, though, can remain private, as they’re protected by their pseudonym.\u003C/p>\n\u003Cp>The system distributes all the blockchain data to thousands of users, or \u003Cstrong>nodes\u003C/strong>. This way, blockchain eliminates the need for a middleman who legitimises transactions and provides assurances (like a bank does in traditional currency transactions). As long as the majority of nodes agree upon their common digital history, the information in the blockchain is considered to be valid and indisputable. In this way, the nodes function as a sort of crowd-sourced assurance that transactions are legitimate.\u003C/p>\n\u003Cp>Replacing one central authority with thousands of nodes also means that there is no single exploitable weak point. This makes blockchain secure for storing important or sensitive information, such as legal documents, healthcare data or cryptocurrency.\u003C/p>\n\u003Ch3>Blockcain Essentials\u003C/h3>\n\u003Cul>\n\u003Cli>Decentralized – maintained by many nodes instead of a central authority.\u003C/li>\n\u003Cli>Immutable – once stored on the chain, data can no longer be changed or erased.\u003C/li>\n\u003Cli>Transparent – anyone can view the info, from the first block to the latest.\u003C/li>\n\u003Cli>Private – while all transactions are public, the actors remain pseudonymous.\u003C/li>\n\u003Cli>Safe – it is nearly impossible to hack a blockchain because that would stingy hacking the majority of nodes at the same time.\u003C/li>\n\u003C/ul>\n\u003Ch2>A short history of blockchain\u003C/h2>\n\u003Cp>The idea of the blockchain has existed for over a quarter of a century, but it was popularised by the mythical founder of \u003Cstrong>\u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-bitcoin-btc/\">Bitcoin\u003C/a>\u003C/strong>, \u003Ca href=\"/en-gb/learn/people-profiles/satoshi-nakamoto/\">Satoshi Nakamoto\u003C/a>. No one knows who Satoshi is or if he is even a real person. All we know is that someone using that name made a revolutionary breakthrough and created Bitcoin, the first decentralized currency. Blockchain technology is the framework that made the breakthrough possible.\u003C/p>\n\u003Cp>Since its inception in 2009, Bitcoin has grown into a global phenomenon. It has led more and more developers to recognise the game-changing potential of blockchain technology. Most of the popular cryptocurrencies today use blockchain as their technological backbone. \u003Cstrong>\u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a>\u003C/strong>, \u003Cstrong>\u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-litecoin-ltc/\">Litecoin\u003C/a>\u003C/strong> and \u003Cstrong>\u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-bitcoin-cash-bch/\">Bitcoin Cash\u003C/a>\u003C/strong> are examples of blockchain-based cryptocurrency.\u003C/p>\n\u003Cp>It is inaccurate, though, to equate blockchain with cryptocurrencies. Not all cryptocurrencies are blockchain-based, and some use a different underlying technology to achieve a similar effect to that of the blockchain. And it also goes the other way round – blockchain has many applications beyond being the foundation for cryptocurrencies.\u003C/p>\n\u003Ch2>Blockchain network\u003C/h2>\n\u003Cp>To answer the question “what is blockchain,” one must first understand the meaning and value of \u003Cstrong>\u003Ca href=\"/en-gb/learn/blockchain/centralized-and-decentralized-networks/\">decentralization\u003C/a>\u003C/strong>.\u003C/p>\n\u003Cp>Traditionally, information was stored in centralized systems – there was no alternative. Before digital technology, archives of (paper) files and libraries held information. Since it was bound to a physical form, there was no way to distribute ownership. You could copy an entire library and have two instances of the same books (that was the tradition during the Middle Ages, when teams of monks painstakingly hand-copied manuscripts, before the invention of the printing press), but that is not what decentralization is about.\u003C/p>\n\u003Cp>Decentralization means that all the nodes in a network have simultaneous ownership of the same information. If you copy a book, then it results in a new book, since the new copy can have alterations made to it that do not appear in the original. If you copy a blockchain to send it to a new node, it means that the same blockchain is being sent. Any changes made to the copy will also be made in the original. There actually is no “copy” and “original” between nodes, it’s just one blockchain, existing in many locations at the same time.\u003C/p>\n\u003Cp>With the dawn of digital technology, centralized systems remained the norm. Information is no longer stored on paper. Instead, it is still stored on servers, which have a clear and definite owner. Your bank’s information – which includes your account balance and transaction history – is stored on the bank’s servers. If someone hacks the server, they hack your bank account. The data is stored at a single point in a known location. Break into that location and you’ve broken into the system.\u003C/p>\n\u003Cp>If someone wanted to access the data in a decentralized setting, they would have to break into the majority of nodes at the same time. Hacking just one node is useless. The network will realize its information has been compromised. Then, it will replace the hacked node’s copy of the blockchain with a “healthy” version from the other nodes.\u003C/p>\n\u003Cp>To ensure that all nodes actually have the same information, they need to be in \u003Ca href=\"/en-gb/learn/security/what-are-blockchain-consensus-rules/\">consensus\u003C/a>. Nodes must agree about which information is to be included in the blockchain. In other words, nodes vote to determine the “right” version of the blockchain. Any different version is rejected, ensuring that everyone has the same blockchain. If you want to make changes in your copy that are not accepted by consensus, you create a new blockchain, separate from the original. This is called a \u003Ca href=\"/en-gb/learn/crypto-101/what-are-blockchain-forks/\">fork\u003C/a>.\u003C/p>\n\u003Cp>You can imagine the blockchain as a virtual version of a single manuscript being passed around between the 21st century equivalent of monks in their scrivarium – nodes add to that single “manuscript,” the blockchain. Each node is able to add to it, each one able to check its contents, each makes sure that it looks correct, that every line is in consensus. The difference is that this single, virtual manuscript appears everywhere in the world at the same time, etched in digital stone, protecting all of the information that appears within it, from the past and into the future.\u003C/p>\n","full","left",{"text":17},[],[],"July 29th, 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Kingdom",{},{},{"title":195,"content":17,"items":196},"Contact",[197,202,206,210,214,218,223,228],{"noFollow":36,"isExternal":36,"name":198,"value":199,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":200,"geofencings":201},"Customer 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20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":224,"value":225,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":226,"geofencings":227},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":229,"value":230,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":231,"geofencings":232},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":236,"ready":33,"platformButtonText":282,"backButtonText":283,"logInButtonText":284,"signUpButtonText":285},[237,242,248,251,255,260,265,268,273,278],{"headerName":238,"sidemenuName":119,"url":239,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":240,"submenu":241,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":243,"sidemenuName":243,"url":244,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":245,"submenu":246,"tag":247},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":134,"sidemenuName":134,"url":135,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":249,"submenu":250,"tag":17},{},[],{"headerName":252,"sidemenuName":252,"url":107,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":253,"submenu":254,"tag":17},"Mobile App",{},[],{"headerName":256,"sidemenuName":256,"url":257,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":258,"submenu":259,"tag":17},"Markets","/markets/",{},[],{"headerName":261,"sidemenuName":261,"url":262,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":263,"submenu":264,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":111,"sidemenuName":111,"url":112,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":266,"submenu":267,"tag":17},{},[],{"headerName":269,"sidemenuName":269,"url":270,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":271,"submenu":272,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":274,"sidemenuName":274,"url":275,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":276,"submenu":277,"tag":17},"Learn","/learn/",{},[],{"headerName":279,"sidemenuName":279,"url":107,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[287,290,294,298,302,306,310,314,318,322],{"title":32,"url":288,"geofencings":289},"/en-gb/learn/blockchain/",{},{"title":291,"url":292,"geofencings":293},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":295,"url":296,"geofencings":297},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":299,"url":300,"geofencings":301},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":303,"url":304,"geofencings":305},"Crypto trading","/en-gb/learn/crypto-trading/",{},{"title":307,"url":308,"geofencings":309},"Cryptocurrency guide","/en-gb/learn/cryptocurrency-guide/",{},{"title":311,"url":312,"geofencings":313},"People profiles","/en-gb/learn/people-profiles/",{},{"title":315,"url":316,"geofencings":317},"Security","/en-gb/learn/security/",{},{"title":319,"url":320,"geofencings":321},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":323,"url":324,"geofencings":325},"Web3","/en-gb/learn/web3/",{},1776263825660]