A block is a computer file that stores and organizes data in a blockchain; several blocks are strung together to form the network transactions of a blockchain which are recorded in the ledgers of each participant.
Understanding the term
In order to maintain the chain of transactions, each block on the blockchain requires to be structurally identical. The blockchain network maintains synchronization and agreement on the exact history of transactions by batching them into blocks.
There are three types of blocks in various blockchains, namely genesis blocks, valid blocks, and orphan blocks. Genesis block refers to the first block of a blockchain, while a valid block refers to a block that has been mined and included in the blockchain. An orphan block refers to a valid block that is not included in the blockchain due to reasons such as two miners validating a block almost simultaneously or an attacker with sufficient hashing power attempting to reverse a transaction.
A block comprises a block header and transaction data that are crucial to the functioning of the network and its ability to transfer value. In addition, a block also contains a list of all transactions contained in it, block size, transaction counter, and a magic number.
Blocks are a permanent store of records where information is stored and encrypted. Miners and block validators create blocks by successfully validating encrypted information in block headers. It is common to refer to blocks in relation to cryptocurrency transactions, but they can also be applied to other types of digital data.