#blockchain

Digital currencies are treated like money but are mined like gold. Mining is simply the verification of the encryption process. People around the world transfer electronic currencies from wallet to wallet, while miners use computer processing power to maintain the "blockchain" database and verify these transactions.

The blockchain is essentially a list of transaction records, called encrypted blocks that are linked together. The blockchain continuously grows and is fully open to anyone. Each block in the blockchain contains:

1. The details of the sender and receiver and the amount of electronic currencies

2. The "hash", which is a unique fingerprint

3. The hash of the previous block in the chain

When a new block is created, it is sent to all users in the network. After that, each user verifies the block and then adds it to the blockchain.

Each of the digital currencies existing today has its own blockchain, and the complex calculations that lie at the heart of blockchain data are generated by computers. To conduct a transaction on the blockchain, you need an electronic wallet (or digital currency wallet).