How Blockchain Works?

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Do you know how blockchain works?

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Answered By 0 points N/A #318253

How Blockchain Works?

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Blockchain consists of multiple blocks linked together. When a new data is to be stored in a block, then it is added to the blockchain. Following steps are taken when a new block is added to a blockchain.

A transaction takes place.

The transaction is verified.

The transaction gets stored in a block.

A hash is assigned to the block, which is a unique code to distinguish one block from another.

The block is added to the blockchain after it is hashing. The blockchain is then publicly available. A blockchain does not have any transaction cost. It is a simple way of passing information from A to B in a fully automated and safe manner.

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