What Are Blocks?

A blockchain consists of blocks. Blocks are made up of digital information. They contain 3 things:

  1. Transaction information: The date, time, location, and amount of a transaction.
  2. Involved parties: Who sent the money and who received the money?
  3. The hash: Each block contains a hash. It’s a unique code that allows us to distinguish the individual blocks from each other.

(Note: In the case of blockchains, there is no personally identifying information. You are represented by a random string of characters within the ledger).

Each block has a set size. When it’s full, it’s added onto the end of the previous blocks, hence the name “blockchain.”