EVERYTHING ABOUT BLOCKCHAIN YOU NEED TO KNOW -:

  1. A transaction is first requested that can be to transfer information or some asset of monetary value.
  2. A block represents the transaction. However, the transaction is not validated yet.
  3. The block with the transaction is now sent to the network nodes.
  4. Each block comprises the data, the previous block hash, and the current block hash.
  5. The nodes now start validating according to the consensus method used. After successful validation, the node now receives a reward based on their effort.
  6. The transaction is now complete.

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