The blockchain is literally just a chain of blocks, but not in the traditional sense of those words.
When we say the words block and chain in this context, we are actually talking about digital
information (block) stored in a public database (chain).
The blocks on the blockchain consist of digital information.
More specifically, they consist of three parts:
- Blocks store transaction information such as the date, time and amount of your expenditure
- Blocks store information about the people involved in the transactions using a unique "digital signature," much like a username
- Blocks store a unique code called a "hash" that allows us to distinguish them from other blocks. This "hash" contains a reference to the previous block in the blockchain
