---
title: Blockchain
description: Blockchain is a record-keeping system. Unlike a centralized database, where one entity is the source of record, a blockchain database is distributed.
---

[Realized 1031 Glossary of Terms ](https://www.realized1031.com/glossary)

# [Blockchain](https://www.realized1031.com/glossary/blockchain)

 Written by [The Realized Team](https://www.realized1031.com/glossary/author/the-realized-team) | Jun 27, 2022 12:00:00 PM

Blockchain is a type of record-keeping system. Unlike a centralized database, where one entity is the source of record, a blockchain database is distributed. This structure is called a distributed ledger. Within a distributed ledger, the database is pushed to multiple nodes (i.e., machines) within the network. Certain nodes verify each transaction. These verifying nodes must reach a consensus for the transaction to be committed into the ledger and be redistributed. The consensus of transactions is a key element of blockchains. No one authority is able to take control of a blockchain. Blockchains are also the backbone of cryptocurrencies.

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