A Blockchain is a growing list of records, called blocks, that are linked using cryptography. It is a type of diary or spreadsheet containing information about transactions. Each transaction generates a hash. Each block refers to the previous block and together make the Blockchain. A Blockchain is effective as it is spread over many computers, each of which has a copy of the Blockchain.

So, in that it is a digital record of transactions, the name comes from its structure, in which individual records, called blocks, are linked together in a single list, called a chain. Blockchains are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many other applications.

Below are videos that will help you understand the Blockchain.