This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT).īlockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.Ī blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
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