Components of a Blockchain

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Jack Farris 19 Nov 2024

The components of a blockchain include blocks, nodes, transactions, and consensus mechanisms. A block stores a collection of transactions, timestamped and linked together in a chain.

The components of a blockchain include blocks, nodes, transactions, and consensus mechanisms. A block stores a collection of transactions, timestamped and linked together in a chain. Nodes are decentralized participants that validate and propagate transactions across the network. Transactions represent the transfer of data or value between parties, while the consensus mechanism (e.g., proof of work, proof of stake) ensures that all participants agree on the transaction history. Together, these components create a secure, transparent, and immutable decentralized ledger.

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