A decentralized, distributed ledger that securely and openly records transactions is defined.

Blockchain technology was first introduced with the launch of Bitcoin in 2008 and has since grown to be used in a wide range of applications.

Technical details: Blockchain secures and verifies transactions using cryptography and hashing, and validates them using consensus techniques.

Applications: In addition to cryptocurrencies, blockchain has been utilized in supply chain management, voting systems, smart contracts, and other areas.

Limitations: Blockchain is criticized for using a lot of energy and for having problems scaling.