Posted on February 3, 2025
Structure of a Single Block in a Blockchain
**Block #12345:**
- **Block Hash**: 00000000000000000123456789abcdef
- **Previous Block Hash**: 00000000000000000123456789abcdee
- **Timestamp**: 2025-02-02 16:42:00
- **Nonce**: 123456
- **Transaction List**:
- **Transaction 1**:
- **Sender**: Alice
- **Receiver**: Bob
- **Amount**: 10 BTC
- **Transaction 2**:
- **Sender**: Bob
- **Receiver**: Charlie
- **Amount**: 5 BTC
- **Merkle Root**: 0123456789abcdef0123456789abcdef
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Block Hash: A unique identifier for this block, derived from all the data within the block including the transactions, the previous block’s hash, timestamp, and nonce.
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Previous Block Hash: The hash of the block that came before this one, which creates the chain. Changing any data in any block would change this hash, rendering the entire chain invalid from that point forward.
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Timestamp: When the block was created.
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Nonce: A number used only once, used in mining to find a hash that meets the network’s difficulty criteria.
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Transaction List: The records of exchanges or data transfers that are included in this block. Here, I’ve shown two example transactions.
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Merkle Root: A hash of all the transactions in the block, providing a way to verify the integrity of the transaction data without listing all transactions.
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Each block is connected to the next one via the hash of the previous block.
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The chain extends back to the ‘genesis block‘ or the first block in the blockchain.
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If you altered any data in any block, the hash of that block would change, which would mean all subsequent blocks would no longer be valid because their Previous Block Hash would no longer match.
Posted on February 2, 2025
Gold-Backed Cryptocurrencies
Here are some notable gold-backed cryptocurrencies:
• Paxos Gold (PAXG) – Each PAXG token represents one ounce of gold on the Ethereum blockchain, stored in London in LBMA-approved vaults. It’s fully redeemable for physical gold.
• Tether Gold (XAUT) – XAUT is an ERC-20 token where each token is equivalent to one troy ounce of gold held in secure vaults in Switzerland.
• Digix Gold Token (DGX) – DGX represents one gram of 99.99% pure gold, with the physical gold stored in Singapore and Canada. It operates on the Ethereum blockchain.
• AurusGOLD (AWG) – Each AWG token is backed by 1 gram of LBMA-accredited gold, and it’s designed to be a bridge between traditional gold investment and blockchain technology.
• Perth Mint Gold Token (PMGT) – Issued by the Perth Mint, each token represents one troy ounce of gold and is backed by physical gold held in Perth Mint’s vaults.
• Kinesis Gold (KAU) – Kinesis Gold tokens are backed by physical gold with 1 KAU equalling one ounce of gold, stored in insured vaults.
• Comtech Gold (CGO) – Each CGO token represents one gram of 24K gold, stored in DMCC-approved vaults in Dubai, offering instant settlement and zero custodian fees.
• Glidera Gold (GLDT) – A gold-backed token governed by a DAO, where each token represents a claim on a certain amount of gold held in reserve.
• GoldCoin (GLC) – An ERC-20 token where 1000 GLC equals one ounce of gold, allowing redemption for physical gold.
• Meld Gold – This project has introduced stablecoins backed by gold on the XRP Ledger, with each token representing 1 gram of gold.
Please note that the landscape of gold-backed cryptocurrencies can evolve, with new projects emerging and others potentially becoming less prominent or ceasing operations. Always verify the current status, regulatory compliance, and security measures of these cryptocurrencies before investing. The information provided here is based on the data available up to the last update of the referenced materials.
