Exploring the Future of Blockchain Development

Ekanshatech13 Aug, 2024Technology

Blocks and Chain: A blockchain consists of a series of blocks, each containing a list of transactions. These blocks are linked together in a chain, ensuring that each block is connected to the previous one. Decentralization: Unlike traditional databases, which are usually centralized, blockchains are distributed across a network of nodes, making them more resistant to tampering and censorship. Consensus Mechanisms: Blockchain networks use consensus algorithms to agree on the state of the ledger. Common mechanisms include Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS).