How Are Blockchain Formed And The Parts Of Blockchain

stardustveins Dec 7, 2018

A blockchain is a distributed ledger. In a blockchain if one information is recoreded then it can't be changed or modified but it can be updated. This is what makes the transaction process more secured.

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In a blockchain each block contains three parts. They are Data, Hash and Hash Of Previous block.

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Data has the details of transactions such as name, amount , time etc. Hash is something unique and is used for identification. Hash is also known as fingerprint. When a data us changed hash also changes. If a data gets changed then the old hash doesn't belong to the old data. Hash of a previous block is what create the chain between each block. This chaining process is what make the whole transaction process more secured.

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The first block in the block chain is called as genesis block because this block initiates the rest of the chaining method.

This is how a blockchain is formed and the parts involved in the blockchain. For more such articles about blockchain then follow me. If you think this will help someone then share this with them. Bye.

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