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Can You explain the components of Blockchain Ecosystem?

Question Posted / Neha Chaturvedi

Answer Posted / Neha Chaturvedi

The components of a Blockchain ecosystem include: 1. Nodes - Participants in the network that store, process, and validate transactions. 2. Miners or validators - Entities that verify and add new blocks to the chain. 3. Smart Contracts - Self-executing contracts with the terms of the agreement directly written into code. 4. Consensus Algorithm - The method used by nodes to agree on the validity of transactions and add new blocks to the chain.

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