The basic components in a blockchain
Understanding the anatomy of a blockchain is key and a basic requirement to access Web3. Here, we will go over the components and architecture of a blockchain.
We are aware that a blockchain is a distributed database made up of a number of blocks, connected by cryptography and safeguarded with it. Each block has a list of several transactions, and once data has been recorded on a block, it cannot be altered. Let us look at the most common components of a blockchain, which includes but is not limited to the following:
- Blocks: A block is a collection of transaction data that is added to a blockchain. Each block contains a unique code called a “hash” that distinguishes it from other blocks in the chain.
- Nodes: A node is a computer that participates in the operation of a blockchain network. Nodes can validate transactions and add them to a blockchain.
- Miners: Miners are nodes that perform the work of verifying transactions...
