Blockchain Basics News

Blockchain is a distributed digital ledger that records transactions across many computers. Each block contains transaction data, a timestamp, and a link to the previous block, creating an immutable chain. This makes it nearly impossible to alter historical records.

Proof-of-work (PoW) requires miners to solve complex puzzles using computing power (Bitcoin uses this). Proof-of-stake (PoS) selects validators based on how much crypto they 'stake' as collateral (Ethereum uses this). PoS is more energy-efficient but has different security tradeoffs.

Blockchain security comes from: decentralization (no single point of failure), cryptographic hashing (linking blocks), consensus mechanisms (requiring network agreement), and immutability (extremely difficult to alter past records). Attacking a major blockchain would require enormous resources.

Nodes are computers that maintain a copy of the blockchain and validate transactions. Full nodes store the entire blockchain history, while light nodes store only essential data. More nodes mean greater decentralization and network resilience.