The basis of blockchains are blocks. These are small units of data containing transactions that account for all transactions in a given period of time. If you transfer some crypto, your transaction will likely be included in the next block. Blocks are mined and added to the chain, creating a blockchain. Each block validates the block before it, thus maintaining a single, permanent or immutable version of the truth. The size of the block determines how much data can be stored on it and the frequency of the blocks or block times determine how many blocks are produced in a given time. The blockchain should contain every single transaction ever made since the beginning of the blockchain.
“I just made the transaction. We need to wait for the next block to be mined for confirmation.”« Dictionary Menu