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The key components of a blockchain network are:
Decentralized Ledger: Records transactions across a network of computers, ensuring transparency and immutability.
Consensus Mechanism: Validates and agrees upon the order and validity of transactions, maintaining consistency across the network.
Cryptography: Secures transactions and identities using cryptographic techniques like hashing and digital signatures.
Blockchain ensures data integrity and security through:
Immutable Records: Once a transaction is recorded on the blockchain, it cannot be altered or deleted, ensuring data integrity.
Distributed Consensus: Consensus mechanisms prevent malicious actors from altering the blockchain’s history by requiring network agreement on transaction validity.
Cryptographic Security: Cryptography secures transactions and identities, protecting against unauthorized access and fraud.
A blockchain network consists of decentralized nodes, cryptographic hashing, consensus mechanisms, and smart contracts. It ensures data integrity and security through immutable data storage, cryptographic hashing, and distributed consensus algorithms.