The blockchain in its simplest form is a chain of blocks
it is actually not that simple. the complicated part is the part where these individual blocks are chained together using cryptography and also the part where some method is used to make the entire database immutable (which means unchangeable).
The data in the blocks consist of information {...} and hash algorithim
the hash algorithm isn't stored in the blocks! the blocks are hashed (or rather the header of the block) and then the hash of it is used in the next block.
A blockchain is a type of distributed ledger which is public and decentralized.
this part is wrong. bitcoin blockchain is what you explained. but other blockchains could be private and centralized and not-distributed.
A digital signature is used by a user to authorize crypto transations. It consists of a public and private key pair
the signature is created
using the private key, it neither contains the private key itself nor the public key. signature is simply 2 numbers called r and s.
The blockchain is updated every second
this is wrong. blockchain is updated each time a new block is found which can be in less than a second to infinity time depending on many things such as the way difficulty of the said blockcahin works or even if it is using the same proof of work algorithm as bitcoin (some are not) and how many are mining and finally how lucky they are in finding the hash.
This will be all for now! I hope this helped!
I will be posting other important topics you need to know about cryptocurrency and how it works!
it is good that you are making the effort like this but i think you should educate yourself more before trying to teach others.