The term "blockchain" refers to the way in which the data is stored. Transactions are grouped together in blocks and added to the blockchain in a linear, chronological order. Each block contains a unique code called a "hash" that links it to the previous block, creating an unbreakable chain of data.

This system of storing data makes it nearly impossible to tamper with or alter the information contained within the blockchain. Because the data is distributed across a network of computers, there is no single point of failure, and it is extremely difficult to hack or manipulate the system.

Blockchain technology has many potential applications, including cryptocurrency transactions, supply chain management, and even voting systems.