P2P Networks
Transaction Process
Transaction Initiation
Validation
Broadcasting
Block Formation
Block Broadcasting
Block Formation
Valid transactions are grouped into blocks by nodes responsible for creating new blocks (e.g., miners in PoW or validators in PoS).
Transaction Initiation
When a transaction is initiated, it is broadcast to all nodes in the network.
Block Broadcasting
The new block is broadcast to the entire network, and each node updates its copy of the blockchain.
Validation
Each node independently verifies the transaction’s validity according to the network’s consensus rules.
Broadcasting
Once validated, the transaction is propagated to other nodes, ensuring that all nodes have the latest information.
2.16 P2P Process Overview
FlexSmart marketing
Created on May 24, 2024
Start designing with a free template
Discover more than 1500 professional designs like these:
View
Education Timeline
View
Images Timeline Mobile
View
Sport Vibrant Timeline
View
Decades Infographic
View
Comparative Timeline
View
Square Timeline Diagram
View
Timeline Diagram
Explore all templates
Transcript
P2P Networks
Transaction Process
Transaction Initiation
Validation
Broadcasting
Block Formation
Block Broadcasting
Block Formation
Valid transactions are grouped into blocks by nodes responsible for creating new blocks (e.g., miners in PoW or validators in PoS).
Transaction Initiation
When a transaction is initiated, it is broadcast to all nodes in the network.
Block Broadcasting
The new block is broadcast to the entire network, and each node updates its copy of the blockchain.
Validation
Each node independently verifies the transaction’s validity according to the network’s consensus rules.
Broadcasting
Once validated, the transaction is propagated to other nodes, ensuring that all nodes have the latest information.