Once this is complete, the validators then “chain” this block of transactions to other blocks in the network to create a block-like layer. This is blockchain explained, in simple terms.

A Simple Explanation Mining crypto may seem like an involved technological procedure, but it is a straightforward, basic function: it makes cryptocurrency secure, reliable, and useful.

So let’s start with the definition of a blockchain in basic terms. But before we chain things together, let’s talk blocks. What Is A Block? A block is a record of new transactions.