VietMX Staff asked 3 years ago
The blockchain has four major elements:
- Shared ledger – It is decentralized in nature and is a central component of the blockchain.
- Node application – It is a software that lets your computer connect with the blockchain. Ex: Bitcoin uses the bitcoin wallet application to detect each mode on the network.
- Virtual application – It handles all the tasks that blockchain undertakes.
- Consensus algorithm – This is used for managing blockchain rules through which each node can come to a conclusion.
