Alex
@alex217
In the context of cryptocurrency, a network refers to the decentralized infrastructure that allows transactions to be conducted, verified, and recorded. Here are key components of a cryptocurrency network: Nodes: These are individual computers (or servers) that participate in the network. Nodes maintain copies of the entire blockchain (ledger) and communicate with each other to validate transactions and maintain consensus Blockchain: This is a decentralized ledger that records all transactions made with the cryptocurrency. Each new transaction is added to a "block" of transactions, which is then cryptographically linked to the previous block, forming a chain. This ensures transparency and security Consensus Mechanism: Cryptocurrency networks use consensus algorithms to agree on the state of the blockchain. Popular mechanisms include Proof of Work, Proof of Stake, and variations thereof. These mechanisms prevent double-spending and ensure that all nodes in the network have a consistent view of transactions
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