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Maartinn
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December 05, 2019, 02:32:39 PM
 #1

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.
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December 05, 2019, 02:34:15 PM
Merited by Upgrade00 (2), BL46K 7193R (1)
 #2

A block is a room for information. Where Bitcoin transaction information is stored permanently. A block usually contains up to five hundred transaction data. The block has 3 elements, Such as Data, the hash and the hash of the previous block. When a transaction is made, all information in that transaction is kept in this block. Blockchain is made up of many blocks.

It's simple.

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December 05, 2019, 02:53:47 PM
 #3

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.

Actually, probably it's not about "cryptocurrency block", but about block in Blockchain technology.
Blockchain technology is a rather complicated topic and it is very difficult to describe it in simple words. I think that at the beginning you should watch this videos and then ask additional questions:

https://www.youtube.com/watch?v=r43LhSUUGTQ
https://www.youtube.com/watch?v=SSo_EIwHSd4

Also, if you use the search engine in this forum, you should find all the topics and answers you need about Blockchain.
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December 05, 2019, 02:58:17 PM
 #4

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.
I suggest visiting school/education programs such as Newscrypto.io, Crypto School etc..They cover all basics quite well and it's really important to start with essentials. Hope it helps

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December 05, 2019, 03:06:24 PM
 #5

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.

A block contains transactions. Multiple blocks referencing each other form a blockchain, a distributed database that contains all transactions ever conducted on a certain cryptocurrency network, for example bitcoin. Transactions and blocks are confirmed using cryptography and a hard-to-solve task (proof-of-work which discourages fake blocks altho there are other anti-counterfeiting systems) and those signatures can be verified by anyone which makes the blockchain work without a central authority.

This should give you enough to get started searching for other information that may interest you.
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December 05, 2019, 03:06:39 PM
Merited by nelson4lov (1), fillippone (1)
 #6

There's nothing much to say about block,
1. It stores some transaction and smart-contract execution (for cryptocurrency with smart-contract)
2. A block always metadata such as previous block, timestamp and consensus (PoW, PoS, etc.) information (depending on the cryptocurrency)
3. Usually it has fixed maximum size

P.S. You should specify your question to get good answer

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December 05, 2019, 03:20:44 PM
 #7

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.

Blocks are like a list of information and this information are transactions. For example a transaction between two BTC addresses. Such blocks need to be approved by miners. That is the reason we have miners. There is a whole section explained in the online school programs. you can see for yourself if you are eager to learn more: https://platform.newscrypto.io/school/basics/Crypto-mining-and-icos
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December 05, 2019, 04:05:46 PM
 #8

I always like to recommend this site: https://andersbrownworth.com/blockchain/

In it you can visually see how a blockchain works, you will see how a block works, what is inside it, how they are mined and how they are linked together. (Watch the video first).
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December 06, 2019, 07:30:11 AM
 #9

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.

Easily, it's the brick who build the blockchain.
A block records some or all of the most recent Bitcoin transactions that have not yet entered any prior blocks. Thus, a block is like a page of a ledger or record book. Each time a block is 'completed', you can read mined, it is linked to the next block in the blockchain.

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December 06, 2019, 01:15:21 PM
 #10

A cryptocurrency block is a block where all Bitcoin transaction information is collected. It collects information permanently. If I lose any information later, I can easily find it. The cryptocurrency block is a transaction between two addresses that store all information in the cryptocurrency block. It is completed in the middle of a contract.

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December 08, 2019, 09:25:44 AM
 #11

I am not clear about the cryptocurrency network system. I dont understand about cryptocurrency block. what is it. I want to know the actual cryptocurrency blocks works.
The block can be found in blockchain technology which contains a data like cryptographic hash from the previous block, a timestamp, and transaction data so that each block is resistant to data modification. Cryptographich hash is a math algorithm used to solve each hash in blocks. Here's an example block and take a look yourself what you can really find in a block - https://www.blockchain.com/btc/block/00000000000000000000a6aa810398698e60770f728f276185dbe0316e37cf5d.

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December 08, 2019, 05:31:47 PM
 #12

Simply speaking, blocks are records of transactions that is not yet solved by the algorithm. We can take it as basically a record book. Think of it this way. There are 2 record books, one is filled with transactions that are done,one is filled with transactions that aren't. The block could be said to be the record that contains the transactions that are not yet done. Basically, data that isnt recorded yet.

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December 08, 2019, 06:05:31 PM
 #13

Blockchain blocks (in general) can be figured as follows.

You are an MI agent. You are assigned to a specific location. You bring a van that contains a lot of items. There are some items that you already recognize, some of them are not recognized.

You have been given specific instructions which tracks to take. The instructions are drawn in map. When you look at the map, you see there`s so many military barracks that you must to visit.

Your leader gives specific task to you, according to the map that has been given to you, you must stop at each those military barracks. As proof that you have visit each barracks, you will get a valid verification in the form of a stamp. You must get those stamp at every barracks that you visited till you arrive at designated location.



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