A block is a file that contains information about transactions completed within a certain time period and is an essential part of a blockchain. When we talk about blockchain, we imagine a series of interlinked blocks, each with a unique role to ensure the security and integrity of transactions.
Each block includes:
- A record of transactions made in a given period.
- A hash reference to the previous block, linking the blocks into a secure chain.
- A timestamp, showing exactly when the block was created.
- Solving a unique cryptographic puzzle to add the block to the network.
How a block works
Each block in the blockchain is formed sequentially, being added at the end of the chain. The blocks are linked together by a hash system, which means that each block contains a cryptographic hash of the previous block. This feature makes any modification almost impossible, as it would require changing all successive blocks in the chain.
Role of the cryptographic puzzle and mining mechanism
An essential element in the process of adding a block is the need to solve a unique cryptographic puzzle. It ensures that adding a new block is a well-regulated process, requiring time and computational resources to solve.
The mining process has several important steps:
- Miners solve the cryptographic problem.
- The first miner to find the solution transmits the block to the network.
- The rest of the network validates the block before adding it to the blockchain.
- The miner who solves the puzzle receives a cryptocurrency reward, which is the first transaction in the new block.
In the case of bitcoin, the difficulty of the puzzle is automatically adjusted every 2,016 blocks to maintain a stable rate of block production.
Genesis Block, the first block created
The first block created in a blockchain is called the genesis block. Unlike other blocks, it does not include a reference to a previous block, but is the starting point of the chain. All subsequent blocks are directly or indirectly linked to this first block.
The role of a block in securing the blockchain
The structure of blocks makes blockchain technology incredibly difficult to compromise. Each block contains a unique hash, generated based on the data in the block and the hash of the previous block. This means that any change to a single block affects the entire chain. What’s more, the blockchain network is decentralized, being stored simultaneously on all users’ computers. This factor makes an attack even more complicated, as hackers would have to modify all copies of the blockchain on the entire network simultaneously.
Simply put, the blocks are the backbone of the blockchain because they:
- Record transactions, ensuring their authenticity and traceability.
- Make the blockchain immutable, ensuring extreme security.
- Allow data to be decentralized by storing it on multiple devices.
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