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Showing posts from January, 2018

[Blockchain]Structure of Blockchains

Structure of a Blockchain A blockchain at its simplest idea, is a huge ledger containing crucial information about particular transactions. Imagine a big list containing a lot of rows with information in it. Well, that is just what a blockchain is. The whole ledger is known as the blockchain and each row in it represents the blocks. A block contains all important information on a particular transaction. To begin, a blockchain has a genesis block, which is the one at the very beginning of the chain. As for the other blocks, they will all have some information before it and after it. Informations vary depending of the purpose of the project. For example, one transaction in a block would look like this:- In the case of bitcoins, IINW, a block is generated every 10 minutes. A block, basically contains transactions occured within a period of time. After recording transactions within those 10 minutes, the blocks are added to a chain of blocks and other transactions are recorded in