A blockchain is a digital ledger of transactions that duplicates and distributes across the entire network of computer systems on the blockchain. 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 exists in every participant’s ledger. The decentralised database run by multiple participants is the Distributed Ledger Technology (DLT).
Blockchain makes it difficult or impossible to change, hack, or cheat the system. Blockchain is different because nobody is in charge; it’s run by the people who use it. What’s more, bitcoin or ether can’t be faked, hacked or double spent – so people that own this money can trust that it has some value.