Blockchain is a digital ledger that securely logs and validates transactions or information. It is decentralised and transparent. The ledger is spread throughout a network of computers called nodes, rather than being controlled by a single central authority like a bank or government.
Imagine a shared spreadsheet that is synced and updated across numerous machines continuously. The spreadsheet is stored on every computer connected to the network, and anytime a new transaction or piece of information needs to be entered, everyone on the network collaborates to verify and accept its accuracy.
A transaction or piece of information is packaged into a "block" with other transactions or information once it has been confirmed. The term "blockchain" refers to a collection of blocks that are connected to one another and form a "chain."
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