Blockchain is a list of records that are linked using cryptography which is called blocks and grows with those blocks. Each block contains the encryption hash of the previous block, a timestamp and transaction data.
By design, a blockchain is resistant to data modification. “It is an open, distributed ledger that can record transactions between the two parties efficiently and verifiable and permanently. By ensuring that digital information is distributed but not copied, blockchain technology has created the base of a new type of internet. As the first digital currency, Bitcoin, has found other potential uses for the technological community.