Blockchain Definition: What You Need to Know
Published in
Sep 7, 2022
WRITTEN BY JIMMY AKI|UPDATED SEPTEMBER 6, 2022
How Does Blockchain Work?
Essentially, all blockchain types operate in a similar manner. They rely on miners — dedicated individuals who verify transaction blocks and add them to the blockchains individually. These miners work with sophisticated hardware and software, and their work is critical to the functionality of a blockchain.
Transactions are recorded as data blocks. This data usually contains brief descriptions of what the transaction is about. For instance, cryptocurrency transactions usually include details about the parties involved, the transaction size, and more.
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