# Network Overview

*The steps to run the network are as follows:*

1. *New transactions are broadcast to all nodes.*
2. *Each node collects new transactions into a block.*
3. *Each node works on finding a difficult proof-of-work for its block.*
4. *When a node finds a proof-of-work, it broadcasts the block to all nodes.*
5. *Nodes accept the block only if all transactions in it are valid and not already spent.*
6. *Nodes express their acceptance of the block by working on creating the next block in the*\
   \&#xNAN;*chain, using the hash of the accepted block as the previous hash.*

Satoshi Nakamoto, Bitcoin Whitepaper

The **network** operates as a decentralized system where nodes communicate and collaborate to maintain a secure and immutable ledger. This ledger is composed of blocks that contain transactions, and the integrity of the network is upheld through a series of well-defined steps. Each node plays a crucial role in the network's functionality, ensuring that transactions are validated, blocks are created, and the longest chain of blocks is maintained. The process is designed to be resilient, allowing for the efficient propagation of information even in the face of potential communication failures.

### Key Components of the Network

* **Nodes**: Individual participants in the network that validate transactions and blocks.
* **Transactions**: The fundamental units of value transfer within the network.
* **Blocks**: Collections of transactions that are grouped together and added to the blockchain.
* **Proof-of-work**: A consensus mechanism that requires nodes to solve complex mathematical problems to validate blocks.


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