What are the key components of a Blockchain network?

A blockchain network is made up of several key components: nodes, a distributed ledger, consensus mechanisms, cryptographic techniques, blocks, and network protocols. These components work together to allow multiple participants to maintain a shared, tamper-resistant record of transactions without relying on a central authority. Each component has a specific role in validating, storing, securing, and synchronizing blockchain data.

A blockchain network is a distributed system where many participants maintain a common database called a ledger. Instead of a single server controlling the data, responsibility is spread across multiple computers called nodes. The main components are:

1. Nodes

Nodes are computers or devices that participate in the blockchain network. They store, validate, and share blockchain data with other nodes.

Types of nodes include: