Introduction to Blockchain Concepts and How They Work
This guide introduces ledger structure, transaction confirmation, cryptography, consensus mechanisms, and network types to help beginners understand how blockchain records and protects data without a single central authority.
What Is Blockchain
A blockchain is a digital ledger jointly maintained by a distributed network of computers. Data is packaged into blocks in chronological order, and each block is linked through the hash of the previous block. Once a block is confirmed, modifying its information typically also requires altering subsequent blocks and obtaining network consensus, giving the record strong tamper resistance.
How Are Transactions Written to the Blockchain
After a user initiates a transaction, the information is broadcast to the node network. Nodes check the digital signature and transaction data according to predefined rules, and verified transactions are then packaged into blocks. Network participants use consensus mechanisms to confirm the validity of blocks, after which the blocks are added to the chain and each node maintains a consistent copy of the ledger.
Cryptography and Consensus Mechanisms
Hashing converts an input into a fixed-length string, and even a subtle change to the input produces a markedly different result. Public-key cryptography enables users to sign with a private key and others to verify with a public key. PoW relies on computational power competition to confirm blocks, while PoS primarily selects validators based on the cryptocurrency staked by participants.
Network Types and Applications
Public blockchains are generally open, transparent, and permissionless; private blockchains are managed by a single entity with access and write permissions; consortium blockchains are maintained jointly by multiple organizations. In addition to cryptocurrency, blockchain can be used for smart contracts, digital identity, voting, asset tokenization, and supply chain records.
Original Tutorial
https://www.binance.com/zh-CN/academy/articles/what-is-blockchain-and-how-does-it-work
Mark it complete when you understand it.
Opening a lesson does not complete it automatically. You can change its status at any time.