Blockchain is a decentralized, distributed ledger that records the provenance of a digital asset.According to ibm Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. Blockchain is causing a complete shift in the way individuals, businesses and governments conduct transactions by triggering widespread digital transformation and create a far more digitally-integrated global economy than what we have today.With the technology rapidly evolving and its definition shifting, most people have inadequate and inaccurate knowledge of what blockchain really is.Blockchain was developed in 2008 as the accounting method for Bitcoin.The inventor of this game-changing technology is anonymous, going by the pseudonym Satoshi Nakamoto.Whether this is the name of a person or a group of people is yet unknown.

A blockchain is essentially a digital ledger of transactions that is duplicated and distributed 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 is added to every participant’s ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT).Below are the main elements of Blockchain

• A blockchain is a shared database that stores information in a data structure called blocks

• Based on In a decentralized blockchain network, so that no one has to know or trust anyone else. Each member in the network has a copy of the exact same data in the form of a distributed ledger

• The storage and transmission of data takes place in coded form

• Blockchain technology leverages the power of P2P networks and provides a shared and trusted ledger of transactions.