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One of the accepted virtues of blockchain is that it creates a permanent, immutable ledger of transactions.
Bitcoin's distributed ledger of transactions, known as a blockchain, makes it possible for it to operate without any central authority.
Today, we can create a global, irrefutable ledger of transactions, events, and diagnoses, such that rewriting history is computationally infeasible.
This would be a problem because computers running the mining software also maintain the ledger of transactions, known as the blockchain, that records and guarantees bitcoin transactions (see "What Bitcoin Is and Why It Matters").
To date, much of the focus on digital currencies has been directed at their potential to substitute for or complement fiat currencies, but the true innovation lies in their underlying infrastructure – the decentralised ledger of transactions called the 'blockchain', which could have extensive effects in myriad applications.
A blockchain is essentially a public ledger of transactions or events recorded and stored in chronologically- and linearly-connected blocks.
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She was simply known as "Great Mary". My most precious memory of visiting this magical island is that I held and looked through my ever so great-grandmother Mary's ledger book of transactions that she made at her general store starting in 1662.
Blockchain technology is essentially a public ledger of transaction records that has a steadily increasing set of data blocks.
The reward for mining a block (a block = a ledger of transaction data) was just cut in half from 25 bitcoins to 12.5 bitcoins.
A blockchain is the technology that guarantees the authenticity of an online currency by creating publicly available "ledgers" of transactions in blocks of data.
Of course you need ledgers of transactions as the raw material from which to derive the financial state of affairs at whatever chosen point in time is of interest.
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