Explore my portfolio mix. Follow to see how I invest!Blockchain is a ledger, similar to other databases, that records transaction information between users.
As a ledger, the information recorded in the blockchain is like "Zhang San transferred 10,000 yuan to Li Si at 5:30:23 PM on July 1, 2020", more accurately, it is "10,000 yuan was transferred from this wallet address to that wallet address at this time."
Blockchain has transparency; everyone can view the transaction history, but cannot see the user identity corresponding to the addresses. All computers in the network are nodes, and each node holds a copy of the ledger. Nodes must reach a consensus on transactions—only when the majority of nodes agree will the transaction be recorded.
In chains that use the PoW (Proof of Work) consensus mechanism (like the Bitcoin blockchain), miners can only add a new block after successfully solving a cryptographic puzzle. Transaction information is hashed and then passed to the next block; if someone wants to modify a record, they must also modify all previous records simultaneously.
Each record relies on the previous record, forming a chain. Each block has its own hash value, and this hash value relies on the hash value of the previous block.
