Final answer:
Blockchain technology is a digital, distributed ledger of transactions that uses an 'append only' data structure. It ensures transparency, security, and immutability of data.
Step-by-step explanation:
Blockchain technology is a digital, distributed ledger of transactions that use an 'append only' data structure, which are recorded and stored in blocks of data on every node of the network. This technology ensures transparency, security, and immutability of data by creating a decentralized network where transactions cannot be altered. A prominent example of blockchain technology is the cryptocurrency Bitcoin, which uses blockchain to record and verify transactions.