On a blockchain, transaction data is permanently recorded in files called blocks. Each block contains, among other things, a record of some or all recent transactions, and a reference to the block that came immediately before it. Thus a block is like a page of a ledger or record book. Each time a block is ‘completed’, it gives way to the next block in the blockchain. A block is thus a permanent store of records which, once written, cannot be altered or removed.

Last Updated: 10/5/2018, 8:13:44 PM