Blockchain is defined as a distributed system which records and stores transaction records. Blockchain more specifically is defined as a shared, immutable record of peer-to-peer transactions built from linked transaction blocks and stored in a digital ledger.
Blockchain is also similar to a database which stores information, however the main difference is that the data is located in a network of personal computers called nodes where there is no central entity such as a government or bank controlling the data.Instead, all data is shared publicly although the contents of each data is only accessible to those with permission.
Each participant connected to the blockchain network has a secret private key and a public key that acts as an openly visible identifier. The pair is cryptographically linked such that identification is possible in only one direction using the private key. As such, one must have the private key in order to unlock a participant’s identity to uncover what information on the blockchain is relevant to their profile.