What is Blockchain Technology? What are its features?

The blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically.

• The basic element of a blockchain is a ledger. It is not sitting in one company or person but many places as itself. It is duplicated across the globe - Transaction ledger
• It has Peer to Peer connectivity
• There is pseudonymity i.e. you can hide your identity but transactions that happen are transparent
• Irreversibility - As transactions happen on ledger it is very difficult to change them - We do the computational proof to ensure that the transactions are locked in.
• The blockchain is programmable. We can build software logic into our transactions.

Source : HBR.org