A block is a collection of transaction data that is bundled together, validated, and permanently added to a blockchain. Each block contains a cryptographic hash of the previous block, a timestamp, and a set of verified transactions, forming a chronological chain. The process of creating new blocks varies by consensus mechanism: proof-of-work blockchains require miners to solve complex puzzles, while proof-of-stake chains select validators based on staked tokens. Blocks are the fundamental building units of any blockchain network.
Example
“Bitcoin block #800,000 was mined in July 2023, containing over 3,000 transactions and earning the miner a 6.25 BTC reward plus fees.”