Blockchain is an architecture comprising multiple components and what makes blockchain unique is the way these components function and interact with each other. Some of the important Ethereum components are Ethereum Virtual Machine (EVM), miner, block, transaction, consensus algorithm, account, smart contract, mining, Ether, and gas. We are going to discuss each of these components in this chapter.
A blockchain network consists of multiple nodes belonging to miners and some nodes that do not mine but help in execution of smart contracts and transactions. These are known as EVMs. Each node is connected to another node on the network. These nodes use peer-to-peer protocol to talk to each other. They, by ...