What is blockchain data?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system . A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

As a database, a blockchain stores information electronically in digital format . Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions.

Blockchain is decentralized and hence there is no central place for it to be stored. That’s why it is stored in computers or systems all across the network . These systems or computers are known as nodes. Each of the nodes has one copy of the blockchain or in other words, the transactions that are done on the network.