Initially, when a user creates a transaction over a Blockchain network, a block will be created, representing that transaction is created. Once a block is created, the requested transaction is broadcasted over the peer-to-peer network, consisting of computers, known as nodes, which then validate the transaction.
A verified transaction can involve cryptocurrency, contracts, records, or any other valuable information.
Once a transaction is verified, it is combined with other blocks to create a new block of data for the ledger.
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Many of us have heard of cryptocurrencies (like Bitcoin), which have exploded in value in the last ten years. The underlying technology, blockchain, is the heart of crypto and many other new digital applications and ecosystems.
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