My understanding:
Blogspot is a free website that publishes blogs written by the public. It is also referred to as blogger. Blogs are webpages that people can dedicate to a topic or certain purpose to which they add personally written posts or share information. For example, someone might begin a cooking blog where they write about their new and most favorite recipes. Or someone else might write a personal account of their travels to a certain part of the world. Finally, many teachers use blogs as a digital writer's workshop for their students. No matter what the purpose of the site, the owner of the site writes their own posts which are logged to this website under a certain date and are available for the World Wide Web to access.

Educational Example:
Many teachers are beginning to use blogs as digital writer's workshop. Click here to visit a site that describes this in more depth. In essence, the teachers use the motivating publicity of the internet to encourage their students to write professionally and properly. The students type their pieces on the computer, submit them to the teacher for editting, the students edit their papers on the computer, and they are finally published to a blog of some sort. Parents, peers, and administrators can then visit the blog and check out the students' writing.

Check out this video discussing blogs in education. It will also link to other videos about the benefits of blogs!

Other links:
How and why to use a blog in your classroom