---
title: Blockchain
url: "https://www.unknowngravity.com/en/glosario/blockchain"
site: Unknown Gravity
published: "2025-06-06T14:50:18+00:00"
modified: "2026-07-15T10:51:28+00:00"
language: en-US
description: "Blockchain is a distributed registry technology (DLT) that allows digital information to be stored in a structure of cryptographically linked blocks, distributed through a decentralized network of…"
section: "Home > Blockchain"
---

# Blockchain

GLOSSARY · BLOCKCHAIN & WEB3

A technology that allows information to be stored in a secure, decentralized and transparent way using a chain of linked blocks.

WHAT IS IT? · FOR DUMMIES

**Blockchain** is like a **public, secure digital ledger**, where everything that is written (such as payments, contracts or exchanges) **is recorded forever** and anyone can see it. **There is no person or company that controls it**: many computers manage it together and make sure that **no one can cheat** or erase the past.

WHAT IS IT? · PRO

**Blockchain** is a distributed registry technology (DLT) that allows digital information to be stored in a **structure of cryptographically linked blocks**, distributed through a decentralized network of nodes. Each block contains:

- A set of validated transactions,
- Your own cryptographic fingerprint (hash),
- And the hash of the previous block, forming an immutable chain.

This design ensures that **modifying a past piece of data would require altering all subsequent blocks and convincing most of the nodes**, which is computationally unfeasible without controlling a large part of the network.

The operation of a blockchain is based on several key components:

- **Consensus algorithms**: mechanisms that allow nodes to agree which blocks are valid (e.g. Proof of Work, Proof of Stake, BFT).
- **Asymmetric cryptography**: ensures that only the holder of a private key can sign transactions.
- **Peer-to-Peer Network**: Each node keeps a copy of the history and propagates new transactions and blocks.
- **Immutability and traceability**: Everything written on the blockchain is permanently accessible and cannot be erased or falsified.

There are different types of blockchain:

- **Public** (such as Bitcoin, Ethereum): open to all, resistant to censorship.
- **Private or permitted**: controlled by specific entities (used in companies).
- **Consortiums**: managed by a group of organizations that share access and validation.

In addition to registering cryptocurrency, blockchain allows **execute smart contracts**, create **Tokens**, develop **decentralized applications (dApps)**, implement **traceability systems**, **manage digital identities** or **tokenize physical assets**.

Blockchain is transforming sectors such as:

- Finance (DeFi, stablecoins)
- Arts and Entertainment (NFTs)
- Logistics and traceability
- Real estate and tokenization
- Electronic voting
- Health and document management

## 01 / Key points

- Immutable, secure and shared digital record among multiple participants
- Composed of blocks linked using cryptography
- No middlemen required: eliminates the need for trust between parties
- Technological base for cryptocurrencies, smart contracts, NFTs and tokenization
- It can be public, private or consortium, depending on the governance model

## 02 / Advantages

- **Full transparency**: Any user can audit the recorded information
- **Immutability**: the recorded data cannot be altered
- **Decentralization**: does not depend on a central authority
- **Advanced security based on cryptography and consensus**
- **Versatility** to automate processes and reduce intermediaries in multiple sectors

## 03 / Disadvantages

- **Limited scalability** on some public networks (costs, speed)
- **High energy consumption** in models like Proof of Work
- **Technological and cultural adoption curve**
- **Regulatory and legal complexity depending on the country and use**
- **Not all use cases need blockchain, which can lead to overengineering**

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[Full glossary](/en/glosario)

This entry is informative. It is not legal, tax or investment advice. The rules cited change: check the current version on [BOE](https://www.boe.es) and [EUR-Lex](https://eur-lex.europa.eu).