What are the key components of a blockchain network?
A blockchain network consists of several key components:
Nodes: These are individual computers or devices connected to the blockchain network. Every node keeps a duplicate of the whole blockchain ledger.
Blocks: Blocks are packages of data containing transactions. They are linked together in a chronological chain, forming the blockchain.
Transactions: These are records of exchanges of value between participants in the network. Each transaction is validated and added to a block.
Consensus Protocol: It's a set of rules determining how consensus among nodes is reached to validate transactions and add them to the blockchain.
Cryptographic Hash Function: This function ensures the security and integrity of the blockchain by generating unique identifiers for each block.
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