What Are The Components Of Blockchain?

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What Are The Components Of
Blockchain?
Scientifically speaking, a blockchain is a
collection of blocks connecting data in a
sequence. The block is a collection of data and
information collected in a block and hash of the
previous block. When a new block attaches to
this chain, they act as connectors forming a
blockchain.
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• In other words, Blockchain is stored in a ledger
  that records and stores in this record-keeping
  book (Ledger), which is obtainable to everyone
  but is unalterable. Thus making it perfectly safe
  and secure.
• Components Of Blockchain
• NODES There are two types of nodes
• FULL NODE It maintains the full-length form of
  the Ledger. It can approve, deny, and certify
  the transactions.
• PARTIAL NODE It maintains the polished form of
  the Ledger. These nodes have low storage value
  and keep only the value transactions.
• LEDGER A ledger is a collection of data that
  reflects the results of all the transactions. It
  shows the state of the Ledger of a particular
  time and date, when and where the transactions
  are evolved.
• WALLET This is one of the essential components
  of Blockchain its a digital wallet that is
  used to store your cryptocurrencies. It is a
  great size (small), and you dont need to
  convert it into different currencies.

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4) CONSENSUS NETWORK Blockchain is a
decentralized system. It provides many
advantages to one of the challenges maintaining
consistency and verification of the data based on
the decision made by a majority of the
participants. When the end-user joins the
Blockchain, they need to agree to the present
state and agreements of the Blockchain. It's
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