What is a blockchain?
Blockchain is a type of database that is used to store the history of all crypto transactions; blockchains store data in blocks that are then linked together via cryptography.
As new data comes in, it is entered into a fresh new block. Once the block is full, it is chained onto the previous block, which makes the data chained together in chronological order.
Different types of information can be stored on a blockchain, but the most common use so far has been as a ledger for crypto transactions.
In Bitcoin’s case, blockchain is used in a decentralized way so that no single person or group has control—rather, all users collectively have control.
Decentralized blockchains are immutable, which means that the data entered is irreversible. For Bitcoin, this means that transactions are permanently recorded and viewable to anyone.
