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Candidate Block Meaning

A candidate block is a proposed block in a blockchain network that has been assembled by a participant-such as a miner or validator-but has not yet been officially added to the blockchain. It represents a transitional state between the collection of transactions and final confirmation through the network’s consensus mechanism. In Proof of Work (PoW) blockchains like Bitcoin, miners construct candidate blocks by selecting valid, unconfirmed transactions from the mempool and packaging them together with required metadata, including the previous block’s hash and a nonce.

The miner then attempts to solve a cryptographic puzzle. Until the puzzle is solved and the block is accepted by the network, the block remains a candidate. In Proof of Stake (PoS) and related consensus systems, candidate blocks are proposed by validators rather than miners.

These validators are selected based on staking rules, randomness, or delegation mechanisms. Once proposed, the candidate block is broadcast to other validators, who verify its contents before voting to finalize it.

The concept of a candidate block highlights the probabilistic nature of blockchain consensus. Multiple candidate blocks may exist simultaneously, especially during periods of high network activity.

Ultimately, only one block is accepted as the canonical next block, while others are discarded or reorganized during chain selection. Candidate blocks play a critical role in maintaining blockchain security and decentralization.

By requiring validation before final inclusion, networks reduce the risk of invalid transactions, double-spending, or malicious manipulation. The candidate phase ensures that blocks must earn consensus rather than being unilaterally imposed.

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Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

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