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Mention the basic components of the Blockchain Ecosystem.
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Let’s share what is the best answer to this interview question.
There are four fundamental elements of Blockchain ecosystem as explained here:
Shared Ledger: It is a dispensed information shape shared amongst friends managed interior Node application.
two two Node Application: Each of the nodes is mounted and run on a laptop to end up a phase of the blockchain network.
two two Virtual Machine: Here the implementation of training takes place and every participant runs that VM.
two two Consensus Algorithm: It is implemented as a part of node utility which gives the rules for validation of transactions.