A blockchain consists of several key components of a blockchain that enable its decentralized functionality. These include blocks, which store transaction data, and transactions, the actual records of activities. Each block contains a hash, a unique identifier that ensures data integrity. Nodes are individual computers that validate and store blockchain data, while miners or validators are responsible for adding new blocks to the chain through consensus mechanisms like Proof of Work or Proof of Stake. Together, these components ensure the blockchain’s security, transparency, and decentralization.
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