Blockchain is a technology that enables individuals and companies to make instantaneous transactions without an intermediary. Each transaction conducted is encrypted yet traceable to the public.
Transaction information in the form of digital ‘blocks’ are stored and verified by distributed database on multiple computers (nodes) that are trusted and verified by the system—decentralized. A new transaction generates a new block, each block has a timestamp and a link to the previous block, forming a chain.
Transactions information stored on nodes are immutable,therefore completely secure and valid.