Water Block

A water block is a piece of heat-conductive metal, like copper or aluminum,

that's filled with hollow tubes and channels. The bottom of the water block is a flat
piece of metal that sits directly on top of the chip being cooled.

The base, top and mid plates are sealed together to form a block with some sort
of path for water to flow through.
 The ends of the path have inlet/outlet connectors for the tubing that
connects it to the rest of the water cooling system.

The common misconception is that the water block sucks heat from chip
being cooled. But actually, the proper definition is that the water block obtains
temperature equilibrium with the heat spreader of the underlying chip. That's it. No
sucking involved. It simply provides a greater surface area for the heat to spread
over. Since there's more metal to heat up, there's less heat in each molecule of
metal so it seems like its cooling. The heat is concentrated when it is released
by the computer component. The water block provides larger surface area in order
for the heat to spread. The idea is that the design of the base must have lots of
ridges or zigzag patterns in order to prolong the base and water contact to increase
cooling potential. But the downside of it is that it needs large amount of pressure so
that the water can pass through those zigzag patterns.

Water Cooling on PCs

 It can be used on many different computer components including the central
processing unit (CPU), GPU, PPU, and Northbridge chipset on the motherboard. A
liquid-cooling system for a PC is a lot like a cooling system for a car. Coolant flows
through channels in a car's engine block, and the rest of the cooling system
incorporates:

A pump that moves coolant through the system.

A radiator that dispels heat into the air.

A fan that moves air over the radiator.

A coolant reservoir that holds extra fluid and allows easy addition of coolant.

Hoses that connect the different parts of the system.

After the water is being heat up, it is then pumped through the radiator. The
radiator cools the liquid and its heat is rejected in the air through the fan. The
cooled water then goes back to the reservoir. The pump then gets water from the
reservoir to supply it back to the water block. Then the cycle repeats.

Information Sources:

http://www.bit-
tech.net/modding/2008/01/28/watercooling_201_understanding_waterblocks/1

https://en.wikipedia.org/wiki/Water_block#/media/File:Waterblock_exploded_all_deta
ils2.jpg
http://computer.howstuffworks.com/liquid-cooled-pc2.htm

Image Sources:

https://en.wikipedia.org/wiki/Water_block#/media/File:Waterblock_exploded_all_deta
ils2.jpg

https://en.wikipedia.org/wiki/Water_block#/media/File:Waterblock_exploded_all_deta
ils2.jpg

http://hardforum.com/showthread.php?t=1316142

http://hardforum.com/showthread.php?t=1316142

http://www.ibercool.com/en/12/how-to-water-cooling