A block chain or blockchain is a permission less distributed database based on the bitcoin protocol that maintains a continuously growing list of transactional data records hardened against tampering and revision, even by operators of the data store's nodes. The initial and most widely known application of the block chain technology is the public ledger of transactions for bitcoin which has been the inspiration for similar implementations often known as alt chains.
Bitcoin - the decentralised digital cryptocurrency powered by a vast computer network has a stable value around $250 for most of the year. Among regulators and financial institutions, scepticism has given way to enthusiasm (the European Union recently recognised it as a currency). The extraordinary potential of the “blockchain”, the technology significantly stretches far and beyond into crypto fintech innovation. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.