Blockchain is a database that stores information into blocks with limited storage capacities. When a block is filled with data, it’s chained onto the previous block. This process repeats ad infinitum, hence the name “blockchain”.

Each block is timestamped and the information it contains is immutable, meaning it cannot be altered. All recorded transactions on a blockchain network can be checked by anyone at all times. Blockchains are also characterized by their decentralization, which is achieved by storing the network’s information across computers owned by non-colluding parties all across the world. This ensures that no single entity can ever gain control over the network.