What is blockchain technology? How does it work?

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A block in the blockchain is a series of transactions. Such blocks together form the blockchain, which is a system that records the information of these transactions. The blockchain system is highly secured and considered to be impossible to alter or hack. As more and more people participate in blockchain transactions, their transactions are added to the blocks’ series. A ledger is maintained for each of these participants, which is maintained in a decentralised database, known as the Distributed Ledger Technology (DLT).