Can you explain how blockchain works in simple terms?
Sure, I'll do my best to explain how blockchain works in simple terms.

At its most basic level, a blockchain is a digital ledger that records transactions in a secure and transparent way. Think of it as a shared spreadsheet that multiple people can access and edit, but once something is recorded, it can't be altered or deleted.

Every time a transaction is made on a blockchain, it is verified and added to a "block" of transactions. Each block is then cryptographically secured and linked to the previous block, forming a chain of blocks - hence the name "blockchain". The blocks are stored on multiple computers or nodes in a decentralized network, making it very difficult for any one party to manipulate the system.

In order to add a new block to the chain, it must be validated by the network of nodes using complex mathematical algorithms. This process is called "mining" and it requires a lot of computing power. Miners are incentivized to participate in the network with rewards in the form of cryptocurrency.

Once a block is added to the chain, it becomes part of a permanent and transparent record of all transactions on the blockchain. This makes it very difficult for any one party to commit fraud or manipulate the system, since any changes would have to be approved by the entire network.