Ask AI: please explain how block-chain works.

Blockchain is a decentralized, distributed ledger system which records and stores data in a secure, encrypted manner across a peer-to-peer (P2P) network. It works by creating a digital ‘chain’ or ‘blocks’ of data which is cryptographically linked together. Each block contains a cryptographic signature which is unique to the previous block. This signature is used to ensure the integrity of the entire blockchain and verify the authenticity of all the data contained within it. It works by using distributed consensus, which is a consensus system that relies on the agreement of all participants in the network. Transactions are verified by computers (known as miners) which solve complex mathematical problems in order to add the new block to the chain. When a block is added, it is then broadcasted to the entire network to ensure that everyone has the same version of the blockchain. This ensures that all data is secure, immutable, and tamper-proof, while also allowing for real-time updates to the network. Blockchain technology is being used to revolutionize many industries, from banking and finance to healthcare, supply chain, and more.