A distributed database shared among the nodes of a computer network, blockchain stores information electronically in digital format. Best known for the role that it plays in cryptocurrency systems like Bitcoin, blockchain guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
Put simply, blockchain is an open and censorship-resistant database model, secured by encryption and decentralization. “Blockchain records information in blocks on a shared ledger,” forkast reports, “storing a synchronized copy of it on all the systems participating in the network, hence assuring its immutability (i.e., unchanging over time or unable to be changed).”
