Blockchain networks work as a system that consists of blocks and allows information to be stored on blocks with different parameters. Each block is added together in the network to form the blockchain network. These blocks contain a set of transactions or pieces of data that are distributed and verified among all participants of the blockchain network.
What's Inside the Blocks?
Each blockchain network may have its own features and block structure. However, many different blockchain networks use almost the same block structure. These block structures usually include the following:
- Transactions
- Merkle Root
- Nonce Value
- The Hash of the Previous Block
- Block Header
What Are Transactions?
The blockchain network has a list of transactions that take place on top of it. These transactions usually consist of different actions such as money transfers, activation of smart contracts, and data storage requests.
What Are the Features of Transactions?
Transactions in blockchain networks have some common features. These features are as follows:
- Transfer Value
- Source Account
- Target Account
- Signatures and Authentication Information
- Transaction ID
What Is Transfer Value?
In a transaction, the number of cryptocurrencies, which are generally digital currencies (e.g. Bitcoin, Ethereum), or tokens, which are assets.
What Is Source Account?
The account that initiates the transaction or sends the value. This account is the owner or source address of the asset transferred in the transaction.
What Is Destination Account?
The account to which the asset is transferred as a result of the transaction. This account is the recipient or destination address of the asset.
What Are Signatures and Authentication Information?
Cryptographic signatures are used to verify ownership of a transaction and provide authorization. The transaction is digitally signed by the initiating party using their private key and verified by other participants in the network.
What Is Transaction ID?
A unique credential is assigned to the transaction. This credential allows the transaction to be found and referenced on the network. This credential is called the transaction ID.
Transactions are collected on the blockchain network, verified and then recorded in a new block. These transactions can be traced back and verified on the blockchain network, creating a transaction history that is reliably available across all participants in the network.
What Is Merkle Root?
It refers to a single hash value created by combining all transactions on the blockchain network. Merkle Tree technology is used in blockchain networks. The Merkle Root is located in each of the blocks.
What Is Nonce Value?
It is a random set of numbers used in the block creation process of blockchain networks. These numbers, in other words, the nonce value, are used to verify the integrity of the blocks. It is modified to adjust the hash value of the block to meet a certain criterion. The nonce value plays an important role in the block creation process.
What Is the Hash of the Previous Block?
In a blockchain network, each block contains a unique credential, or hash value, of the previous block. Since the blocks are linked together in a chain-like fashion, each block contains the hash value of the previous block.
Some of the data listed above can also be found in the block headers inside the blocks.
What Is Block Header?
In blockchain networks, each block has a block header. The data structure contains the credentials and control data of any block is called a block header. Block headers have been developed to distinguish other blocks in blockchain networks from the block in question. Each block has a unique block header.
What's Inside the Block Header?
Block headers contain data from different parameters. This data is stored in the block header. The block header serves as a dump of all this data. Within the blocks of a blockchain network, these block headers usually contain the following data.
- Version Numbers
- The Hash of the Previous Block
- Merkle Root
- Difficulty Target
- Timestamps
- Nonce Value
What Are Version Numbers?
It is a number that identifies a specific version of the block structure. In this way, when the block structure used in the network is changed, it can be determined which version the blocks are using.
What Is Difficulty Target?
It is a value that indicates the level of computational power required to create a block. This value requires the block's hash value to start with zero to a certain extent. The difficulty target ensures that the blockchain network is robust and secure.
What Are Timestamps?
It is a timestamp that indicates the time the block was created. It is usually expressed in UNIX time format.
These headers, which are the unique credentials of blocks, make it possible to chain blocks together and ensure the integrity of the blockchain network. Blocks are usually required to contain these headers.
