Blockchain Tutorial | Blockchain Technology | Blockchain in Supply Chain

Each “block” represents a number of transactional records, and the “chain” component links with a hash function. A blockchain is a permanent record of all the transactions that take place during a secure, chronological, and immutable way.
Breakdown the definition,

Immutable : It means as you build all the transaction onto the blockchain, this ledger can never be changed
Ledger : It's a file that's constantly growing.
Secure : Blockchain placed information during a secure way. It uses very advanced cryptography to form sure that the information is locked inside the blockchain.
Permanent : It means once the transaction goes inside a blockchain, you'll put up it permanently within the ledger.
Chronological : Chronological means every transaction happens after the previous one.

A blockchain may be a chain of blocks which contain information. Each block records all of the recent transactions, and once completed goes into the blockchain as a permanent database. Whenever a block gets completed, a new block is generated.

Blockchain Introduction

Who uses the blockchain ?

Blockchain technology are often integrated into multiple areas. Blockchain provides a record of any transaction.
The first use of blockchains is as a distributed ledger for cryptocurrencies.
It shows great promise across a good range of business applications like Banking, Finance, Government, Healthcare, Insurance, Media and Entertainment, Retail, etc.

Within the financial industry, blockchain can allow the quicker settlement of trades.
It doesn't take a lengthy process for verification, settlement, and clearance. It's because of one version of agreed-upon data available between all stakeholders.

Blockchain uses very advanced cryptography to ensure that the information is locked inside the blockchain.
It uses Distributed Ledger technology where each party holds a replica of the first chain, therefore the system remains operative, even the large number of other nodes fall.

Blockchain register transactions during a chronological order which certifies the unalterability of all operations, means when a new block is added to the chain of ledgers, it can't be modified or removed.

It allows each party to transact directly with each another without requiring a third-party intermediary.

It's decentralized because there's no central authority supervising anything.
There are standards rules on how every node exchanges the blockchain information.
This method ensures that each one transactions are validated, and every one valid transactions are added one by one.