{"id":2592,"date":"2022-11-06T20:23:38","date_gmt":"2022-11-06T20:23:38","guid":{"rendered":"https:\/\/metaschool.so\/articles\/?p=2592"},"modified":"2024-06-28T11:05:50","modified_gmt":"2024-06-28T11:05:50","slug":"block-meaning-blockchain","status":"publish","type":"post","link":"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/","title":{"rendered":"Block"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_56_1 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#What_is_a_block_in_blockchain_%F0%9F%93%96\" title=\"What is a block in blockchain? \ud83d\udcd6\">What is a block in blockchain? \ud83d\udcd6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#Block_in_laymans_terms\" title=\"Block in layman\u2019s terms\">Block in layman\u2019s terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#What_is_crypto_mining\" title=\"What is crypto mining?\">What is crypto mining?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#How_do_individual_blocks_of_information_form_a_chain\" title=\"How do individual blocks of information form a chain?\">How do individual blocks of information form a chain?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#The_hash_of_the_first_Bitcoin_block_ever_created_looks_like_this_%F0%9F%91%87%F0%9F%8F%BC\" title=\"The hash of the first Bitcoin block ever created looks like this \ud83d\udc47\ud83c\udffc\">The hash of the first Bitcoin block ever created looks like this \ud83d\udc47\ud83c\udffc<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#What_does_the_hash_of_a_block_consist_of\" title=\"What does the hash of a block consist of?\">What does the hash of a block consist of?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#Blocks_store_a_lot_of_pieces_of_information_which_include_%F0%9F%91%87%F0%9F%8F%BC\" title=\"Blocks store a lot of pieces of information which include \ud83d\udc47\ud83c\udffc\">Blocks store a lot of pieces of information which include \ud83d\udc47\ud83c\udffc<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/metaschool.so\/articles\/block-meaning-blockchain\/#Lastly_a_block_is\" title=\"Lastly, a block is:\">Lastly, a block is:<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"what-is-a-block-in-blockchain\"><span class=\"ez-toc-section\" id=\"What_is_a_block_in_blockchain_%F0%9F%93%96\"><\/span>What is a block in blockchain? \ud83d\udcd6<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Remember reading how mitochondria are the powerhouse of a cell? Similarly, a block is the powerhouse of a blockchain. It is a data structure in the blockchain database where records of transactions in a <a href=\"https:\/\/metaschool.so\/blockchains?ref=Article&amp;utm_source=Blog_Organic\">cryptocurrency<\/a> are stored permanently.<\/p>\n\n\n\n<p>The concept of these blocks was presented by an anonymous person, <a href=\"https:\/\/metaschool.so\/articles\/satoshi-nakamoto-bitcoin-profile\/\">Satoshi Nakamoto<\/a>, in <strong>2008<\/strong>. It is important to note that Satoshi is also the creator and founder of <a href=\"https:\/\/metaschool.so\/blockchains\/bitcoin?ref=Article&amp;utm_source=Blog_Organic\">Bitcoin<\/a>. <\/p>\n\n\n\n<p>His idea was that each block in the chain must contain the address of other blocks and they are chained with each other thus forming a blockchain. As a novice idea, this proved to be groundbreaking as today the whole of web3 technology today is based on a chain of blocks known as a blockchain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-in-layman-s-terms\"><span class=\"ez-toc-section\" id=\"Block_in_laymans_terms\"><\/span>Block in layman\u2019s terms<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The simplest way to understand a block would be to think of it as a piece of a large puzzle. To simplify this further, let\u2019s use Bitcoin. Now Bitcoin miners, individuals who verify transactions and mine the blocks, get some 6.25 Bitcoins (BTC) on mining a block. This amount is halved every 210,000 blocks.&nbsp;<\/p>\n\n\n\n<p>Imagine these 210,000 blocks as a part of a huge puzzle. From the 1st to the 210,000th block, this whole puzzle (which we call blockchain) is connected. <\/p>\n\n\n\n<p>Each block has a different identity (the hash value) which makes it immutable and has a certain number of transactions (generally each block has somewhere around 2000 transactions and the size of a block is somewhere around 1MB). If you happen to exchange two blocks or move them from their designated places, the entire puzzle will go to waste. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-crypto-mining\"><span class=\"ez-toc-section\" id=\"What_is_crypto_mining\"><\/span>What is crypto mining?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are thousands of blockchains in the ecosystem today. Each follows a specific consensus mechanism. And why a consensus mechanism, you ask? This is because a blockchain consists of nodes as well. Nodes and blocks are both pivotal parts of a blockchain. Nodes help verify the transactions whereas the blocks are where the verified transactions are stored. Both are involved in the verification process and then adding it to the block eventually.<\/p>\n\n\n\n<p>Now, back to the consensus mechanisms. Some blockchains follow the <a href=\"https:\/\/metaschool.so\/articles\/proof-of-work-meaning\/\">Proof-of-Work<\/a> consensus mechanism; whereas some follow the <a href=\"https:\/\/metaschool.so\/articles\/proof-of-stake-pos-meaning\/\">Proof-of-Stake<\/a> consensus mechanism. Mining is mostly done in those that follow PoW.&nbsp;&nbsp;<\/p>\n\n\n\n<p>To further understand how the consensus mechanism works, read the following article:<\/p>\n\n\n\n<p><a href=\"https:\/\/metaschool.so\/articles\/validator-blockchain\/\">What is a validator?<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-do-individual-blocks-of-information-form-a-chain\"><span class=\"ez-toc-section\" id=\"How_do_individual_blocks_of_information_form_a_chain\"><\/span>How do individual blocks of information form a chain?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A block is a permanent, <a href=\"https:\/\/metaschool.so\/articles\/immutable-blockchain\/\">immutable<\/a> record of a transaction that can never be changed or removed once a transaction is added.<\/p>\n\n\n\n<p>A new block is created when a new transaction is entered and validated on the chain. Once the transaction is validated, it gets closed and then only a new one is created for a transaction.<\/p>\n\n\n\n<p>The first block in a chain is the <a href=\"https:\/\/metaschool.so\/articles\/genesis-block-meaning\/\">genesis block<\/a> which happens to be the only one that doesn\u2019t contain data of the previous hash because it\u2019s the first in the chain.<\/p>\n\n\n\n<p>Moreover, it can be identified by its <a href=\"https:\/\/metaschool.so\/articles\/hashing-in-blockchain\/\">cryptographic hash<\/a>, which is a digital fingerprint made by hashing the block header twice in the Secure Hash Algorithm (SHA-256). The resulting 32-byte hash is called a hash.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"the-hash-of-the-first-bitcoin-block-ever-created-looks-like-this\"><span class=\"ez-toc-section\" id=\"The_hash_of_the_first_Bitcoin_block_ever_created_looks_like_this_%F0%9F%91%87%F0%9F%8F%BC\"><\/span>The hash of the first Bitcoin block ever created looks like this \ud83d\udc47\ud83c\udffc<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-does-the-hash-of-a-block-consist-of\"><span class=\"ez-toc-section\" id=\"What_does_the_hash_of_a_block_consist_of\"><\/span>What does the hash of a block consist of?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The hash value of a block in a blockchain consists of the following super-important elements which are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/metaschool.so\/articles\/what-is-nonce-in-blockchain\/\">Nonce<\/a> &#8211; a random number &#8211; used to generate a hash value<\/li><li>The hash of the previous block&nbsp;<\/li><li>The difficulty target meaning how difficult it is to find a hash value of the block and add it to the blockchain. For example, Bitcoin has a time limit of 10 minutes to verify a block. If the miners verify blocks faster, the difficulty level shall increase.<\/li><li>Timestamp of when the block was created<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"blocks-store-a-lot-of-pieces-of-information-which-include\"><span class=\"ez-toc-section\" id=\"Blocks_store_a_lot_of_pieces_of_information_which_include_%F0%9F%91%87%F0%9F%8F%BC\"><\/span>Blocks store a lot of pieces of information which include \ud83d\udc47\ud83c\udffc<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>A list of transactions that have been recorded<\/li><li>The number of transactions<\/li><li>The size so that only a specific amount of information is stored<\/li><li>A number that contains values and can be used to identify the block as a part of a cryptocurrency\u2019s network<\/li><\/ul>\n\n\n\n<p>Blocks ensure that attacking a blockchain becomes virtually impossible because there is no central ledger to hack. Thus their function and presence make a <a href=\"https:\/\/metaschool.so\/articles\/what-is-blockchain-guide\/\">blockchain<\/a> very secure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"lastly-a-block-is\"><span class=\"ez-toc-section\" id=\"Lastly_a_block_is\"><\/span>Lastly, a block is:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Immutable<\/li><li>Has a cryptographic identity&nbsp;<\/li><li>A container for all the transactions-related data on a blockchain<\/li><li>And the single most important component of a blockchain that maintains the whole ecosystem&nbsp;<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":5420,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[73],"tags":[51,36,74,68],"class_list":["post-2592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web3-crypto-glossary","tag-blockchain","tag-blockchain-applications","tag-web3-glossary","tag-web3-words"],"_links":{"self":[{"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/posts\/2592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/comments?post=2592"}],"version-history":[{"count":15,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/posts\/2592\/revisions"}],"predecessor-version":[{"id":7596,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/posts\/2592\/revisions\/7596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/media\/5420"}],"wp:attachment":[{"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/media?parent=2592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/categories?post=2592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metaschool.so\/articles\/wp-json\/wp\/v2\/tags?post=2592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}