BLOCK CHAIN PART 4

In this part we discuss about the structure of the block chain .In previous part we discuss about the user anonmity how the block chain maintain the user anonmity or the privacy of the user.what are the benifits and the drawback's of it.

After all of the above discussion we now discuss about the main structure of the block chain and how this block chain mainly work. The block chain is blocks contains transaction information: which address sent how much bitcoin to which other address. These transactions are collected until a block fills up. The block is then full, done, complete and stamped into the block chain. This is the simple structure of the block chain that i explain. Block chains are now recognized as the “fifth evolution” of computing, the missing trust layer for the Internet. But what is the core part of the block chain. block chain mainly contain three main core part first one is the block.

When the first block of a chain is created, a nonce generates the cryptographic hash. The data in the block is considered signed and forever tied to the nonce and hash unless it is mined. A block records some or all of the most recent Bitcoin transactions that have not yet entered anyprior blocks. Thus, a block is like a page of a ledger or record book. Each time a block is 'completed', it gives way to the next block in the block chain.