To explain the common structure of blockchains, it's essential to understand that a blockchain is fundamentally a distributed and decentralized ledger technology designed to ensure security, transparency, and immutability. Here’s a detailed breakdown of the common structure of blockchains:
1. Block Structure
Each block in a blockchain contains a list of transactions. Every block is linked to the previous block through a cryptographic hash, forming a chain. This linkage ensures that once a block is added to the blockchain, it cannot be altered without modifying all subsequent blocks, which requires consensus from the network and is computationally impractical. This makes the blockchain secure and immutable[3].
Header: The block header includes several important elements:
Previous Block Hash: This is the hash of the previous block’s header, which links the block to its predecessor in the blockchain[3].
Timestamp: A timestamp records when the block was created[1].
Nonce: A nonce is a number that blockchain miners are solving for to create a new block through the mining process[1].
Merkle Root: This is a hash of all the transactions in the block, ensuring the integrity of the transactions contained within the block[1].
Transactions: Each transaction within a block represents a transfer of data, assets, or currency between parties. These transactions are secured using cryptographic techniques and are central to the blockchain’s function[1].
2. Chain of Blocks
The blockchain itself is a back-linked list where each block refers to the previous block, creating a chain from the genesis block (the first block) to the current block. This structure is crucial for the blockchain’s integrity and security, as altering a single block would require altering all subsequent blocks, which is computationally prohibitive[3].
3. Decentralization
Blockchain operates on a peer-to-peer network where each node (participant) holds a copy of the entire ledger. This decentralization removes the need for a central authority, making t...
