How does blockchain technology work?

Blockchain technology works by creating a chain of blocks that contain data. Each block contains a timestamp and a link to the previous block in the chain, forming an unalterable ledger of data. When someone attempts to add a new block of data, it is first verified by the network of computers involved in the blockchain and then added to the chain. The data in the new block is then shared with everyone in the network, thus creating an ever-growing, decentralized and secure way of tracking and managing data. Additionally, many blockchain networks employ advanced cryptography to ensure that all data stored within the blocks is protected from unauthorized access or alteration.