Earlier, all the data got stored in a centralized server on the internet. Blockchain is a new age technology that uses a distributed ledger (registry or database) to store data and transactions. In simple terms, it is a chain of data that is managed by a cluster of computers. Also called the new internet, data in the blockchain is secured using cryptographic principles, and stored in a decentralized manner. This means the data stored here cannot be tampered, and there is no central database for the hackers to target. The transactions done through this system are fast, reliable, and highly secure.