BLOCKCHAIN
When a transaction occurs, it is recorded in a block.
When a transaction is initiated, it is transmitted to a network of nodes. Each node validates the transaction using predefined rules.
Validated transactions are grouped into a block. Each block contains:
⭐ Transaction details.
⭐ Timestamp.
⭐ Cryptographic hash (unique identifier created by running the block's data through a hashing algorithm).
⭐ Hash of the previous block (link between blocks, forming the chain).