A blockchain is a distributed database that continuously grows with a record of all of the transactions that have occurred with a given Cryptocurrency. This database is often referred to as a ledger because the data contains a large list of transactions that have taken place. In ULTRAPOINT, these transactions are packaged together into 'blocks' every 1 minute (on average), and all miners and nodes on the network have copies of these blocks.
Additionally, the amounts of all transactions are hidden by ringCT, a feature of ULTRAPOINT and Monero. For auditing or other transparency purposes a user can share a View Key to prove they control certain amounts of ULTRAPOINTS.
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