Create a picture of how blockchain works considering the following steps
Create a picture of how blockchain works considering the following steps: 1-Creating a Block: When a new transaction occurs, it is grouped into a block together with other transactions. 2-Transaction Verification: The miners (in the case of Bitcoin) or validators (in other cryptocurrencies) verify transactions to ensure they are legitimate. 3-Addition to Blockchain: Once verified, transactions are added to the blockchain. This new block is then linked to the previous block., forming a continuous chain of blocks. 4-Immutability: Due to the cryptographic structure, any attempt to alter a previous block would result in the invalidation of all subsequent blocks, making blockchain highly secure.
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Create a picture of how blockchain works considering the following steps: 1-Creating a Block: When a new transaction occurs
,
it is grouped into a block together with other transactions
.
2-Transaction Verification: The miners (in the case of Bitcoin) or validators (in other cryptocurrencies) verify transactions to ensure they are legitimate
.
3-Addition to Blockchain: Once verified
,
transactions are added to the blockchain
.
This new block is then linked to the previous block
.,
forming a continuous chain of blocks
.
4-Immutability: Due to the cryptographic structure
,
any attempt to alter a previous block would result in the invalidation of all subsequent blocks
,
making blockchain highly secure
.
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