What Are the Components of a Blockchain Ecosystem? Explain.

DWQA QuestionsCategory: BlockchainWhat Are the Components of a Blockchain Ecosystem? Explain.
Editor Staff asked 1 month ago

What Are the Components of a Blockchain Ecosystem? Explain.

1 Answers
Editor Staff answered 1 month ago

The blockchain ecosystem has four main components. They are as follows.

  • Node application
  • Shared ledger
  • Consensus algorithm
  • Virtual Machine

    Each plays a crucial role in ensuring that the blockchain ecosystem works as intended.