How Does Blockchain Works

The process of how Blockchain works is not complicated, but it involves more people. It is no longer the bank that must certify transactions, but a group of users.

Everything starts when A wants to make a transaction for B. In the network this transaction is represented as blocks. This is transmitted to all the parts of the network, that is, to the nodes that are connected, so that they approve its validity. Once this is done, the block can be added to the chain, becoming a transparent and indelible record. Finally, the money moves from A to B.

In this process, the nodes confirm that the person who wants to make the transfer has sufficient funds to do so. If this is the case, everyone 'writes down' the transaction and certifies that it can become part of the transaction block. This block will grow to the point where it will no longer support transactions.

The capacity of the block will depend on the structure of the block chain and the size of each transaction. Once it has reached its limit, it will be time to validate it, which is the process that takes place when users are mining. This work consists of performing a series of quite complex calculations that in addition to time require a lot of electricity.

Once this is done, the blocks will be permanently registered in the block chain. This means that they cannot be modified without altering the other blocks that are linked to it, something that is practically impossible because to carry out an operation like this would require most of the nodes to validate it.

The capacity of the block will depend on the structure of the block chain and the size of each transaction. Once it has reached its limit, it will be time to validate it, which is the process that takes place when users are mining. This work consists of performing a series of quite complex calculations that in addition to time require a lot of electricity.

Once this is done, the blocks will be permanently registered in the block chain. This means that they cannot be modified without altering the other blocks that are linked to it, something that is practically impossible because to carry out an operation like this would require most of the nodes to validate it.

Jain (Deemed-to-be University) offers B-tech Degree in Distributed Computing and Blockchain. With Industry standard- Infrastructure and academia, to give students in–depth knowledge of how Blockchain works and lead a bright future! Apply Now!