Mon. Sep 26th, 2022

There are three pillars of blockchain technology: the ledger, the nodes, and the miners.

The ledger is the record of all the transactions that have ever taken place on the blockchain. It is stored on all the nodes in the network, and is updated every time a new transaction is made.

The nodes are the computers that make up the network. They store the ledger and relay transaction information to each other.

The miners are the ones who confirm transactions and add them to the ledger. They do this by solving a complex mathematical problem. In return for their work, they are rewarded with cryptocurrency.

Other related questions:

Q: How many blockchain technology are there?

A: At present, there are many different blockchain technologies available, each with its own advantages and disadvantages.

Q: What is the pillars of block chain technology?

A: The pillars of block chain technology are security, immutability, and decentralization.

Q: What are the 4 different types of blockchain technology?

A: 1. Public blockchain

2. Private blockchain

3. Consortium blockchain

4. Hybrid blockchain

Q: What are the 3 technologies that form blockchain?

A: 1. Cryptography

2. Peer-to-peer networking

3. Distributed ledger technology

Bibliography

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