beginnertechnology

Block

Definition

A new block is added to the blockchain roughly every ten minutes through the mining process. Each block contains a batch of transactions, a timestamp, and a cryptographic link to the previous block, forming an unbroken chain of records.

Example

Each block contains around 2,000 to 4,000 transactions and is linked to the previous block.

Related Terms

Blockchain

A public, distributed ledger that records all Bitcoin transactions in chronological order.

Mining

The process of using computational power to verify transactions and add new blocks to the blockchain.

Block reward

The amount of new Bitcoin a miner receives for successfully adding a block to the blockchain.

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