Discuss the concept of Blockchain Technology. Explain the working of Blockchain Technology giving an example.

Blockchain technology is a distributed digital ledger that records transactions in an immutable and transparent manner. The concept was first introduced in 2008 by an anonymous individual or group of individuals under the pseudonym Satoshi Nakamoto as the underlying technology for the digital currency, Bitcoin. Blockchain has since evolved to be used in various industries, including finance, supply chain management, and healthcare, among others.

At its core, a blockchain is a digital ledger that is decentralized, meaning that it is not controlled by a central authority, and is maintained by a network of participants. Each participant in the network has a copy of the ledger, which is updated in real-time as transactions are made. Each transaction is grouped into a block, which is cryptographically linked to the previous block, creating a chain of blocks or a blockchain.

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