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2.8 Merkle Tree Merkle tree is a binary hash tree data structure [16]. The leaf in the tree contains the data. The data contains all the transactions made. The parent node, one level up in the tree, contains a hash of this data and is paired with another parent node. This continues all the way up to the root. In this way, the root node is the hash of all the data in the tree. The root hash is used in public, and it is relatively easy to verify that a particular data block is included in the Merkle tree. This is done by looking only at the block of data in the leaf and the path to the root. One can verify each of the hash of the tree all the way up to the root. If all the hashes are correct, then the block of data is included in the tree. If there are n nodes in the tree, it takes about log(n) time to verify a block of data [16]. Here in Figure 14, H is the hash and T is the transaction. The top hash is referred to as the root, and the intermediate hashes are branches. The hashes on the bottom are referred to as leaves. The Merkle root of any given block is stored in a header as mentioned in table 2. Figure 14: Merkle tree 18PDF Image | Analysis of Bitcoin Cryptocurrency and Its Mining Techniques
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