Blockchain in simple terms is regarded as the record-keeping technology and has been popular after the advent of Bitcoin. This technology is also linked with banking and investment firms. The information regarding different transactions and details of credit and debit are noted down by us and are termed as records. This is the procedure of maintaining the records manually and the manual records are stated as the ledger. The process of maintaining the record of information and data in form of databases that are stored electronically on the computer system is called Blockchain. It can also be regarded as a digital ledger.

Blockchain is the system of recording and storing information in such a way that it cannot be edited or hacked. Every computer connected to this system has access to the data and information recorded in the Blockchain. It is not managed and controlled by any single person or authority but is decentralized. Thus, the technology is also stated as the distributed ledger system.