Blockchain Technology is built on a distributed ledger software technology that stores growing lists of blocks/records of data. These blocks are securely linked together via cryptographic hashes. Every block of data contains the hash of the previous block, a timestamp and the transaction data.
This way each block contains information about the previous block, they effectively form a chain similar to linked lists data structure you may be aware of. The main advantage of blockchain is the immutability of the data. The data in any given block cannot be altered without altering all the subsequent blocks.
By Original: Theymos from Bitcoin wiki Vector: Razorbliss – Bitcoin Wiki: https://en.bitcoin.it/wiki/File:Blockchain.png, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=16043262
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