The provided Go code demonstrates the creation of a basic blockchain system, which is a decentralized and secure way to manage digital transactions. The code showcases how transactions are grouped into blocks and how the integrity of the entire system is maintained through cryptographic techniques.
At its core, the code defines a blockchain structure composed of blocks. Each block stores a collection of transactions and includes crucial information such as a timestamp, a nonce (a special number for proof-of-work), the hash of the previous block, and its own computed hash.
The code also establishes a transaction pool, where pending transactions are stored before being added to a block. When a new block is created, it includes the transactions from the pool and calculates its own hash based on these transactions, the nonce, the previous block's hash, and the timestamp.
To ensure security and immutability, the code uses cryptographic functions like SHA-256 for hash calculations. Additionally, it showcases how transactions are identified using unique transaction IDs generated from sender and recipient addresses.
In this code, using the fundamental concepts of blockchain, including transaction validation, block creation, hashing, and the building of a chain of blocks to create a secure and tamper-resistant ledger. This script serves as a solid introduction to the underlying mechanics of blockchain technology using the Go programming language.