Block storage refers to a method of storing data across multiple blocks in a decentralized network. Each block contains a set of transactions, which are grouped together and secured using cryptographic techniques. This ensures the integrity and authenticity of the data.

When new transactions occur, they are bundled into a block and added to the existing chain of blocks. This structure is what makes it difficult to alter previous entries, providing a high level of security and transparency. Users interact with this data through nodes in the network, which share and verify the information.

The decentralized nature of block storage means that there is no single point of failure, making it resilient against attacks or system failures. In summary, block storage plays a critical role in the functioning of various applications, enabling secure transaction records that can be accessed and verified by anyone on the network.