In a few words, a blockchain is an ever-growing list of digital data records. Such a list consists of many blocks of data arranged in chronological order and linked and secured by cryptographic evidence. Blockchain transactions occur within a peer-to-peer network of globally distributed computers (nodes). Each node maintains a copy of the blockchain and contributes to the functioning and security of the network.

The blockchain is a decentralized ledger of all transactions in a peer-to-peer network. Using this technology, participants can confirm transactions without the need for a central clearing authority. Potential applications could include fund transfers, clearing transactions, voting and many other issues.