A block chain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a block chain stores information electronically in digital format. Block chains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a block chain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
