1. PixelPlaygroundHome
  2. Metaverse Insights

What is the relationship between blockchain and currency (the relationship between blocks and blockchain)

• Metaverse Insights • 152 views

What is the relationship between blockchain and currency (the relationship between blocks and blockchain)

What is the relationship between blockchain and currency? Blockchain is an abbreviation for distributed ledger technology, also known as “public chain” in digital currency. But it is the same as Bitcoin or Ethereum. It is a peer-to-peer database network that contains various types of data (such as transaction volume, block size, etc.), but they all exist independently and cannot be tampered with. Therefore, blockchain is also a decentralized network platform, with a consensus mechanism similar to Bitcoin. Ethereum is a supercomputer composed of multiple nodes, which is responsible for processing smart contracts and running its own blockchain system. That is to say, Ethereum can be used as a means of value transfer for cross industry payment and other activities What is the relationship between blocks and blockchains In the world of blockchain, a block means the same ownership as anything else, including digital currency or encrypted assets In order for this situation to occur, a new distributed ledger is needed to achieve this goal: recording data on the chain, processing transactions for payments, and sending them to addresses on the network – this information is called “blocks”. Therefore, the relationship between these two concepts can be clearly explained as follows:

1. Each transaction has its own hash value

2. Blocks contain the same information and are randomly assigned 3. Block generation time to determine when to proceed.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/22155/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/06/2023 02:57
Next 08/06/2023 03:19

Recommended articles