Sakshi Goyal

Blockchain

Blog Post created by Sakshi Goyal on Apr 3, 2018

In simple words, data are contained inside blocks as well as an arbitrary integer that is necessary for producing the proof-of-work. In bitcoin blockchain, the block contains a header and relevant transaction data. A merkle tree of transactions is created and the hash of the root is included in the header. A merkle tree is a full binary tree of a hash values. At the bottom level of the tree, each transaction has a node containing its hash value. After that, the tree is constructed in a way such that the parent node has a value of the hash of the data contained in its children concatenating together.

The blockchain is designed in a way such that the average time for a block to be generated remains fairly constant. In the bitcoin blockchain, the average time for a block to generate is 10 minutes. Other blockchains may have a different time, e.g. 30 seconds, 5 minutes, etc.

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