The Blockchain technology, we often hear along with cryptocurrencies, is actually a type of database. Blockchain technology is a special system that stores data and it is very difficult - even impossible to manipulate or hack it. The blockchain is basically a "ledger" that records transactions that span the entire computer network.

The blockchain consists of blocks and operations are performed on each of these blocks. When the new operation is made on the blockchain, this operation is automatically recorded in the “ledger” of each user. Blockchain technology allows cryptocurrencies such as Bitcoin to operate without the need for a central authority.