What Is Blockchain Technology?

A blockchain is a database composed of interlinked blocks of information. It is an inefficient system with the only proven use case being decentralized money—Bitcoin. The Bitcoin blockchain is a digital ledger recording transactions within the network. Every block holds transaction data and connects to its predecessor, preserving data integrity using a proof of work consensus algorithm. Unfortunately, the term "blockchain" has become a marketing term. [See "Bitcoin, Not Blockchain"]