Components of a Blockchain

A blockchain consists of key components of a blockchain: a distributed ledger for recording transactions, cryptographic algorithms ensuring data security, consensus mechanisms for validating entries, and smart contracts automating operations. These elements work cohesively to provide a decentralized, transparent, and immutable system. Nodes in the network maintain and verify the ledger, ensuring trust without intermediaries. These components enable blockchain to serve diverse industries, offering solutions that enhance efficiency, security, and trust across applications like finance, supply chain, and healthcare.