A blockchain is a type of distributed ledger technology. It is described as an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.
In simple terms, transactions are organized into a series of blocks that are linked together and cannot be changed, which is the blockchain. A new block is created once verified. It means that a new pool of encrypted transactions have been added to the blockchain. Palm is a type of blockchain known as a sidechain. This is because it can connect to and interact with the Ethereum blockchain.