In general, a blockchain is a fixed digital ledger that uses cryptography to record transactions and track both tangible and intangible assets on a peer-to-peer distributed computer network. These transactions, called blocks, are recorded, copied, and stored on each server, called a node, connected to the network.
Unlike typical databases that store records centrally (i.e. records are stored in a single location), blockchain is essentially a distributed database maintained by multiple participants. That DLT provides each node in the network with its own copy of the ledger. (And anyone can volunteer their own server as a node on the network.) If there is a discrepancy in the record, the technology will resolve it by validating it against other participants' copies of the record. can be identified. This feature makes records on the blockchain virtually tamper-proof.
Blockchain real-time updates provide a single source of truth for all members accessing it. That means every detail is accurate and reliable.