Step 2How does it work?

Someone requests a transaction.

The requested transaction is broadcast to a P2P network consisting of computers. These computers are known as nodes.

The network of nodes (computers) validates the transaction and the user’s status using known algorithms.

A verified transaction can involve cryptocurrency, contracts, records or other information.

Once verified, the transaction is combined with other transactions to create a new block of data for the ledger.

The new block is then added to the existing blockchain, in a way that is permanent and unalterable.

The transaction is completed.