To put it simply, a blockchain is a digital ledger or a list of transactions that can be viewed and verified on the internet.

Transactions are grouped together in blocks and then processed with a unique block number and time stamped.

These blocks follow each other sequentially like a chain and therefore is called a blockchain.

In fast blockchains these blocks are created every 5 seconds and in slow blockchains the blocks are created every 10 minutes.

You connect to the blockchain with a wallet.

The blockchain thus holds a record of every time someone sends or receives a cryptocurrency on a secure blockchain network.

Computer nodes across the world are connected to the blockchain.

These computer nodes hold a copy of every transaction ensuring the verification and transparency of transactions.

As these blocks continuously move forward and cannot be stopped, cancelled or reversed transactions are immutable.

Blockchains provide a number of advantages such as secure payments, privacy, global networks, and transparent record of transaction history.