Project: lb_blockchain

A blockchain is a decentralized and tamper-proof digital ledger that records transactions in a chain of cryptographically linked blocks. Each block contains transaction data, a timestamp, and a hash of the previous block, ensuring security and integrity. Altering any block would therefore require changing the entire chain, which makes the blockchain highly resistant to fraud and manipulation.

The objective of this project is to write a JavaScript script that implements a simple blockchain that simulates the exchange of digital currency (or cryptocurrency) between users, and therefore the verification and insertion of new blocks in the chain.

Overview of the blockchain

Here is a simple overview of how the blockchain works:

1. When a user wants to send a digital item to another user, such as cryptocurrency, they create a transaction that indicates the sender, receiver, and amount.

2. This transaction is then grouped with other transactions within a unit called a block that contains various information, such as its hash, the hash of the previous block, its time of creation, and so on.

3. This block is then validated by other users of the blockchain called miners by solving complex cryptographic puzzles called proof-of-work and permanently added to the blockchain.

General instructions