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How does a blockchain work - Simply ExplainedA blockchain is a decentralized, distributed, and often public, digital ledger consisting of records called blocks that are used to record transactions across. Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.