A blockchain consists of several essential components of a blockchain, including blocks, transactions, consensus algorithms, and cryptographic hashes. Each block contains a list of transactions, a timestamp, and a reference to the previous block, forming a secure chain. Consensus algorithms, such as Proof of Work or Proof of Stake, ensure network participants agree on transaction validity. Cryptographic hashes provide security by generating unique identifiers for each block. Additionally, nodes maintain the network by validating and broadcasting information, ensuring decentralized operation.
Read more
Comments
Popular Posts
