Blockchain acts as a decentralized supercomputer autonomously governed by its code empowering secure and transparent decentralized projects for organizations. It functions as a distributed ledger system recording transactions across a network of computers ensuring permanence and minimizing the risk of a single point of failure.

Each transaction, once added to the chain becomes an unalterable part of the record. The decentralized nature enhances security by storing information across multiple network nodes. Blockchain's transparency allows all participants to view and verify transactions fostering a trust less and secure environment. Its applications range from financial transactions to supply chain management leveraging its unique attributes for diverse functionalities.