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Blockchain is a data storage coding format.
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Transactions are simply the actions carried out in a particular period, these are stored together in a block. How does it work in practice? That means the transaction cannot be changed, and only parties who have been granted permission can see the results. Blockchains store data in blocks that are then chained together. Blockchain is the innovative database technology that's at the heart of nearly all cryptocurrencies.
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It differs from a typical database in the way it stores information;
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Financial institutions specifically are under tremendous pressure to demonstrate regulatory compliance and many are now moving ahead with blockchain. A blockchain is a type of distributed ledger. Each of these blocks of data (i.e. An analogy might help explain how it works. Blockchain would track the flow of electrons on a distributed grid, much like that of currency in a cyberenvironment.
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Once someone enters a transaction, it cannot easily be changed.
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