Imagine that a blockchain is an imaginary space with all kinds of blocks with data. As time passes, that space fills up with additional blocks of data records, organized in chronological order. In addition to that, the blockchains list is also secured by cryptographic proofs. Are we catching on to any of that? No? Worry not. We will explain everything more understandably.
How blockchains work
When it comes to getting blockchains list explained, you have to understand that a blockchain witnesses a vast number of transactions. When cryptocurrency is used in a transaction, the system tracks who was involved and how much cryptocurrency was used or not used. All crypto transactions made during a specific time frame are recorded into a file called a block, which is the fundamental element of a blockchain network or blockchains list.
The block stores all kinds of information elements, and while this information might seem significant, it doesn’t take too much storage space. There are a couple of different elements that a block would store:
- Transactions – a list of all transactions within a block
- Transaction counter – number of stored transactions on the block
- Block header – this is the information about the block itself
- Magic number – which is a specific value that helps determinate where the block stands in the network that the cryptocurrency is located
The transaction element occupies the most space because it provides the most information. After that comes the block header, which has a couple of sub-elements:
- Nonce – an encrypted number that a miner must solve to verify the block and close it
- Time – a timestamp that places the block on the blockchain
- Version – the version of cryptocurrency in use
- Previous block hash – the encrypted number (hash) if the last block’s header
- Hash Merkle root- hash of transactions in the Merkle tree of the current block
A single 32-bit number in the header is the nonce, and the miner uses random numbers to suggest its place in the hash. After the miner solves the hash by guessing the correct number, the network closes the block and generates a new one with a new header. This process then repeats itself.
Essentially the blockchain is a list of blocks that are solved and waiting to be solved by miners. Blocks individually can be looked at as specific algorithms. Every single one of them is different. When you put your miner to work, it uses its CPU and GPU power to solve these problems on the blockchain.
What do blockchains do?
The simplest way to say it is that blockchains record information in a way that makes it impossible to change, cheat, or hack the system. It compiles data on sales, tracks digital use and payments to content creators, and pretty much anything that might come to your mind.
Are all blockchains decentralized?
They are not; there are both centralized and decentralized blockchains. Only known and identified parties can transact on the ledger in a centralized network. However, on the decentralized network, anyone can transact on the ledger. For example, to maintain the decentralized ledger’s integrity, the Bitcoin’s network uses mining and proof-of-work.
Are all the blockchains the same?
At the moment, the blockchain list can be one of four different types:
- Public blockchains list – these have no restrictions. Anyone who has a connection to the internet can send transactions and become a part of the blockchain. Most of these blockchains offer economic incentives for those who secure them and show proof of work.
- Private blockchains list – these have restrictions so that they can be accessed only if the invite is given by network administrators. In order to distinguish between open blockchains and PTP(peer-to-peer) decentralized database applications that are not open on ad-hoc compute clusters, private blockchains usually use the term DLT (Distributed Ledger).
- Hybrid blockchains – these have a combination of both centralized and decentralized features, and the works of the blockchain are different on each hybrid blockchain.
- Sidechains – these are designed to run parallel to the original blockchain. Entries from the primary chain can be linked to these, and sidechains can also connect the information to each other. In a way, this allows the sidechain to operate on its own.
How many blockchains are there?
At the moment, there are over 10,000 cryptocurrency systems that use blockchain technology. We know, one would never guess that there is such a massive number of data being collected and mined through, but there is.
What are some of the popular crypto game blockchains?
There are over 1000 games related to some blockchain, and you can play every single one of them right now. Of course, most of them would be a colossal waste of time since you would not have who to play them with, or they are just not wholly functional as pretty much anyone can start a blockchain game. But do not worry, as we will list some popular games made by reputable blockchain gaming companies that you could play to earn yourself either some cryptocurrency or NFTs; it is best to look for ones on the ETH network. Here they are:
- Splinterlands – a crypto card game that runs on the HIVE and WAX networks
- Axie Infinity – one of the most popular esports crypto games out there that runs on the RONIN and ETH networks. This game is the perfect option for those who want to experience something like Pokémon in the form of an NFT game.
- Alien Worlds – a science fiction game where you can explore planets and discover alien life that runs on the WAX and BSC networks.
- Farmers World – a farming simulator that runs on the WAX network.
- SecondLive – not to be confused with the famous game Second Life. This one runs on the BSC blockchain, while Second Life is an old game that shares the same ideas and does not run on a blockchain.
- Upland – this is a virtual property trading game where a player can buy, sell, and obviously, trade properties with other players. By being a digital landowner, you can earn UPX coins that you can utilize to mint NFTs.