# Blockchain 101

### What is a blockchain?

A blockchain is a **shared digital state** that is maintained by a group of **independent participants** called **Validators**. Transactions that update this state are grouped into **blocks** and **chained** together sequentially.

To determine the next block, Validators participate in **Consensus**, where they validate and finalize transactions together **without trust**. This process repeats every **block time**, ensuring the blockchain continues to grow in a secure and fraud-proof way.

{% hint style="info" %}
Click [here](https://www.ibm.com/think/topics/blockchain) for a comprehensive definition of a blockchain
{% endhint %}

### Why build a blockchain?

Since no single party controls the network, a blockchain is **decentralized**; its rules and operation are enforced by the stakeholders rather than a central authority.

Key properties of decentralization include:

1. It cannot be censored or controlled by non-stakeholders
2. It self-governs and operates autonomously
3. It has no single point of failure

These properties are ideal for applications that need to be trusted by the public and tamper-proof, like payment systems, media platforms, and governance applications.

<figure><img src="/files/eeJOEUIEqgMYnnYEJu0Y" alt="" width="563"><figcaption></figcaption></figure>

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The distinction between a Web2 app and a blockchain app is decentralization, along with its inherent benefits. Without decentralization, a blockchain app offers no significant advantages over a centralized web app.
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