What is blockchain technology?

Blockchain technology is a form of distributed ledger technology (DLT). It is a digital, decentralized record of all transactions that have taken place over a peer-to-peer network. A blockchain consists of a continuously growing list of records called blocks, linked together chronologically and secured using cryptography. Each block contains a timestamp, transaction data, and a cryptographic hash of the previous block, which makes it difficult to tamper with the data in any given block. By design, blockchains are resistant to modification, providing an immutable ledger of every transaction that has ever taken place on the network.