Before a model new block could be added to the chain, its authenticity must be verified by a computational process called validation or consensus. At this point within the blockchain course of, a majority of nodes within the community must agree the brand new block’s hash has been calculated correctly. Consensus ensures that all copies of the blockchain distributed ledger share the identical state. A blockchain ledger consists of two forms of data, particular person transactions and blocks. The first block consists of a header and knowledge that pertain to transactions taking place inside a set time interval.