How to Blockchain Works ?

in blockchain •  7 years ago 

Step 1: New transactions are broadcast to all nodes

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Step 2: Each node collects new transactions into a block

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Step 3: Each node works on finding a difficult proof-of-work fır its block

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Step 4: When a node finds a proof-of-work, it broadcasts the block to all nodes

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Step5: Nodes accept the block only if alll transactions in it are valid an

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Step 6: Nodes express their acceptance of the block working on creating the next block in the chani using the hash of the accepted block as previous hash

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