The popularity of blockchain has skyrocketed recently due to the technology’s potential for increased efficiency, security, and transparency. But what is it? A blockchain is a distributed ledger of data in which information is replicated across multiple nodes. Each “block” is a time-stamped, unchangeable data record managed by a cluster of computers and not owned by a single entity. These blocks of data are secured and bound to one another—the “chain”—using cryptography. In a decentralized blockchain, this enables immutable, permanent, transparent, and secure record-keeping of transactions. One of the most exciting aspects of decentralized blockchain networks is the lack of a central authority, which means that the blockchain acts as a self-regulating data storage and transaction validation system. Since a blockchain is a shared and unchangeable ledger, the information stored there is permanently and publicly viewable. Decentralized blockchain networks enable the transfer of cryptocurrencies like Bitcoin across the globe, among many other innovative use cases.