What are the core components of blockchain architecture?
What are the core components of blockchain architecture?
The core components of blockchain architecture are crucial for understanding how blockchain networks operate, ensuring transparency, security, and decentralization. Here's a detailed explanation of these components:
Distributed Ledger Technology (DLT): At the heart of blockchain architecture is Distributed Ledger Technology. DLT is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, DLT has no central data store or administration functionality. This ensures transparency and immutability, as every participant in the network has access to the records and can verify them independently[1][2].
Nodes: Nodes are individual computers connected to the blockchain network that play a crucial role in the functioning of blockchain. Each node has a copy of the entire blockchain and works to validate and relay transactions. Nodes can be categorized into full nodes, which maintain a complete copy of the blockchain and validate transactions and blocks, and lightweight or partial nodes, which download only a part of the blockchain for simplifying the verification process[2][5].
Consensus Mechanisms: Consensus mechanisms are protocols that ensure all nodes in the network agree on the validity of transactions. They are critical for maintaining the integrity and security of the blockchain. Common consensus mechanisms include Proof of Work (PoW), Proof of Stake (PoS), and Delegated Proof of Stake (DPoS). These mechanisms help to achieve agreement on the blockchain's state without central authority, ensuring decentralization and security[1][2][3].
Cryptography: Cryptography is used in blockchain to secure transactions and control the creation of new blocks. It ensures the confidentiality, integrity, and authenticity of transactions. Cryptographic hashes, for example, are used to link blocks in the blockchain securely, making it tamper-...
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