What is Nonce???

The nonce is a term that used in the blockchain transaction

In blockchain technology, each block carries some data like transaction data, Previous Block’s Hash etc. This string of data requires a specific signature (Fingerprint of a block) with the help of a cryptographic hash function. As the data of the block can’t be altered so we need a number to attain the perfect hash value. This number is called NONCE in blockchain technology.

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A nonce is a random number that can be used only once as the word itself suggests(Number Once Used).

• A nonce is a tiny piece of data in blocks that is modified randomly by the miners until they hit the perfect outcome/signature.
• Miners employ a trial and error approach during the process of mining and use a new value/number every time to get accurate nonce.
• It is used in the Proof-of-Work blockchain where miners use a huge amount of electricity in the form of computational power to insert many random values as expeditiously as possible until they find a definite value.
• In the case of Bitcoin Blockchain, miners perform multiple attempts to calculate a perfect hash value( that starts with a certain number of zeros). When a miner acquires a perfect nonce, he is granted the right to add the next block into the blockchain and rewarded for doing so. Now, this process starts over for the next block.

Stay tuned for more blockchain-related articles.

Thank you for reading!!!!