What is blockchain?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

A blockchain is essentially a digital ledger of transactions that are duplicated and distributed across the entire network of computer systems on the blockchain. Each block of the chain contains multiple transactions, and each time a new transaction occurs on the blockchain, a record of that transaction is added to each participant's account. Decentralized databases managed by many participants are known as distributed ledger technology (DLT).