What is blockchain technology and how is it used?

Blockchain technology is a type of distributed ledger system that records digital transactions across a network of computers. It is most commonly associated with cryptocurrencies, but it has many other potential applications. At its core, the blockchain is a secure and reliable distributed database that is resistant to tampering and revision. It operates through a consensus-driven distributed ledger technology, meaning all parties involved in a transaction must agree to it before it can be added to the ledger. Blockchain can also be used for a variety of purposes, such as recording data on ownership, tracking physical assets, verifying identity, and managing supply chains.