Blockchain is literally a chain of blocks. Blocks contain the digital information about all the marketplace transactions which is represented by any new data entries: datestamps, purchasing, payment, taxation, buyer and seller ids, licenses, digital signatures, unique crypto referencing, ordering…

A single block can store many transactions and also incorporates a Hash, a unique code that distinguishes each block from other blocks and provides security; once all of the block’s transactions have been verified, it must be given a hash. The block is also given the hash of the most recent block added to the blockchain

Blocks contain identical copies of the same blockchain and can’t be modified once they’re created.

Category
Tags

Comments are closed