Blocks
What is a Bitcoin Block?
-
A block is a bunch of bitcoin transactions that have been joined together and distributed among the network.
-
Each node in the network verifies that the transactions in a block are legitimate.
-
Blocks are the transporters of all the Bitcoin transactions that have ever been made.
Mining and Fees
-
Blocks are also where both new bitcoins and bitcoin mining come into the picture.
-
Miners play a game against each other to get the opportunity to organize blocks together.
-
The Blockchain
-
Blocks are connected to each other in a sequence called a blockchain. You have probably heard this word before.
-
It really is just a chain of blocks.
-
As blocks build on one another, it becomes more and more difficult to change blocks that are further down in the history