Category: 4. How Blockchain Works

After the newly created block has got its unique hash value and authentication through proof-of-work, it needs to be added in the blockchain along with other blocks. It is only when this block gets added in the blockchain will the transaction be complete. That is, Shalini will receive 50 BTCs from Raj.  We know that…

Now, the nodes that form new blocks will try to add them to the main blockchain and make it a permanent part of it. But if every node had the ability to simply add a new block to the blockchain, it would disrupt it and might even be a big security threat. To avoid this,…

After the encryption of information at Raj’s end is, a message for verification goes to all the nodes present on that blockchain network. Now, all of the nodes need to check for all the important parameters related to that transaction. All the nodes in the network will check on points like; Does Raj have enough balance…

In our previous tutorial i.e. “Understanding Blockchain basics”, we learned a lot of important technical terms and concepts of blockchain such as Distributed ledger system, point-to-point network, hashing, proof-of-work, etc. Along with this, we also saw in detail the structure of a single block in a blockchain and its concerning elements. With all this information,…