The components of a blockchain include several key elements that work together to ensure its security, functionality, and decentralization. At its core, a blockchain consists of blocks, which store transaction data, and a chain that links these blocks through cryptographic hashes, forming a secure, immutable ledger. Nodes are decentralized computers that validate and store the blockchain's data, ensuring its integrity. A consensus mechanism like Proof of Work or Proof of Stake helps participants agree on the validity of transactions. Additionally, smart contracts automate and enforce the terms of agreements directly on the blockchain, streamlining processes and reducing the need for intermediaries.