Blockchain components GLOSSARY OF TERMS
Blockchain technology has become widespread due to openness, immutability of stored data, decentralization and the ability to make decisions in an untrusted environment between peers in the network without the participation of intermediaries. The first implementation of blockchain technology was created as part of the Bitcoin cryptocurrency project.
Blockchain includes five main components:
All of these components interact closely with each other and play an important role in the blockchain ecosystem.
There are also additional add-ons for blockchain networks that do not affect the internal architecture of the technology, but can significantly expand its functionality. These include: mechanisms that provide increased speed and improved confidentiality of transactions, mechanisms for off-chain transactions, modules that protect against attacks carried out using quantum computers, etc.
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