The components of a blockchain include several key elements that ensure the system’s functionality, security, and decentralization. These components are: blocks (containing transaction data), chain (the sequence of blocks), nodes (decentralized computers that validate transactions), consensus mechanisms (like Proof of Work or Proof of Stake that validate transactions), cryptography (to secure data), and smart contracts (self-executing contracts). Together, these components work in harmony to create a transparent, immutable, and secure distributed ledger.
Jack Farris
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