Blocks

As with other cryptocurrencies, the PZM Ledger (Ledger of transactions) is built and stored in a linked series of blocks known as the blockchain. This workbook provides a permanent record of the transactions that have occurred, and it also establishes the order in which the transactions were made. A copy of the Blockchain is stored on each node in the Prizm network, and each account that is not blocked on the node (by providing the private key of this account) has the ability to generate blocks, provided that at least one incoming transaction in the account has been confirmed 1,440 times. Any account that meets these criteria is called an active account. In PZM, each block contains up to 255 transactions, all of which are preceded by a 192-byte Header that contains identifying parameters. Each transaction in a block is represented by a maximum of 160 bytes, and the maximum block size is 32 KB.

All blocks contain the following parameters:

• The version of the block, the height of the block and the block ID

• Block timestamp expressed in seconds from the Genesis block

• The ID of the account that created the block, as well as the public key of the account.

• ID and hash of the previous block

• Number of transactions stored in the block

• The total amount of PZM represented by transactions and commissions in the block

• Transaction data for all transactions included in the block, including their transaction IDs

• Length of the payload block and a value of a hash function of the payload block

• The base target value and cumulative difficulty for the block