A blockchain is essentially a shared database ledger that records transactions. It uses Distributed Ledger Technology (DLT) to guarantee that everyone has access to the exact same version of truth.
### The Chained Structure
1. **Distributed Ledger:** No single organization administers the records. Instead, identical database records are copied across many computers worldwide simultaneously.
2. **Blocks and Chains:** Outbound transaction sequences are compiled together into standard groupings called “Blocks.” Each block contains a specific mathematical identifier of the preceding block, creating an unbreakable chronological chain.
This provides absolute chronological order and complete history to anyone searching or auditing onchain activities.