A simple way of thinking about the blockchain is to understand that each block contains information, a timestamp, and a cryptographic hash.
The information in each block is surprisingly minimal — essentially a list of transactions showing the public address from which BTC is being sent and the public address receiving it. As the blockchain is an open, distributed ledger, anyone can see exactly which addresses have sent and received BTC.
There are two special types of transactions in each block which form the basis of mining rewards. Every transaction pays a small fee to the miner. In addition, the miner is rewarded with newly created BTC (currently 3.125 BTC per block). These rewards incentivise miners to provide the computing power that secures the network.
The concept of double-entry bookkeeping has been left behind in this world. BTC is created from nothing and all it ever does is move between wallets — assets with no associated liabilities.
Please feel free to contact us with any questions: mark@curiouscryptos.com