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Public verifiable transaction log
The blockchain is a verifiable public transaction log. The logs were created by the first nodes to process bitcoin transactions.

Transactions added to the ledger are a rich source of information. Each transaction contains the unique transaction ID of the input and output, the amount being sent, the time of transaction, and optional extra information as textual strings. All transactions are timestamped as soon as they are submitted to the network and a proof-of-work mechanism is used to avoid double-spending. https://volhovstroyka.ru/ The exact form of the transaction and its fields is designed to be a concise representation of the generic “bill-of-sale” document that is used with currency.




The block structure

In conventional databases, ledgers use a single table to store all entries. But all the data in blockchain is stored in separate blocks, with every block referencing the blocks it comes after in the chain using a hash pointer, or at least a link (only a few blocks in the chain reference the one that follows it directly).: ch. : 216–225 A block header contains an encrypted hash of a block chain of a predetermined number of blocks (defined by the size of each block).

The ledger chain starts with a genesis block (block #0), has a maximum limit of about 100 blocks, and it will continue to grow indefinitely. Every new block is made up of a header and then a list of transactions. In the Bitcoin protocol the header of a new block has a specific format that is designed so that mining can be used to produce it. The length of the chain can be checked by performing a hash on the block headers.


The first block, the genesis block, is a special type of block. It doesn't use the normal block format, instead containing only the header, which contains nothing but a hash of itself (proof that the genesis block actually exists).: ch. : 216–225 The other blocks in the chain are made by following the Merkle path, that is, taking a hash of all the transactions in the block and skipping a predetermined number of them. The skipping process guarantees that no information is lost because it is impossible to skip over a block that is later used as a reference, and it allows the referencing blocks to be modified and reused.


The header of a block

The header of the block store a hash of the block. This allows to verify
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