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Blockchain technology is a structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain,” in a network connected through peer-to-peer nodes. Typically, this storage is referred to as a 'digital ledger.'

Exactly! Blockchain technology operates as a decentralized and distributed ledger system where transactional data is stored in blocks that are linked together in a chronological order to form a chain. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.