Structure of a Blockchain

Blocks: Containers holding transaction data (e.g., your 0.01 BTC transfer), a timestamp, a unique hash, and the previous block’s hash.

Chain: Blocks are linked chronologically via hashes, forming an unbreakable sequence.

Example: A Bitcoin block (~1 MB) includes your transfer among hundreds of others, linked to the prior block, ensuring continuity.

Types of Blockchains

Public: Open to all (e.g., Bitcoin, Ethereum), used for cryptocurrencies, transparent but slower.

Relevance: Your Bitcoin and Binance Earn transactions occur on public blockchains.

Private: Restricted, controlled by one entity (e.g., Hyperledger), used in businesses, not for public crypto.

Consortium: Managed by a group (e.g., R3 Corda), for enterprise collaboration.

Hybrid: Combines public/private features, emerging in regulated DeFi.

Why Blockchain Matters for Earning Crypto

Security: Protects your earnings (e.g., Binance Earn rewards, mined BTC) from tampering.

Transparency: Lets you verify deposits/withdrawals, avoiding scams like MTFE.

Decentralization: Enables trustless earning (e.g., mining Bitcoin, staking ETH) without relying on a single platform.

Example: Staking 0.1 ETH (~$250) in Binance Earn is recorded on Ethereum’s blockchain, ensuring your 4% APR rewards are secure.

Practical Tips

Verify Transactions: Use explorers (Blockchair.com for Bitcoin, Etherscan.io for Ethereum) to track investments or Binance Earn deposits.

Secure Wallets: Store crypto (e.g., 0.01 BTC) in a Ledger wallet, as you asked about transfers, to protect private keys.

Understand Fees: Bitcoin transfers cost ~$1-$10, recorded on the blockchain; check mempool.space for optimal fees.

Avoid Scams: Only use regulated platforms like Binance, which leverage blockchain transparency, unlike MTFE.