How Blockchain Works?
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.