What are the components of ethereum ecosystem?

P2P network
Ethereum runs on the Ethereum main network, which is addressable on TCP port 30303, and runs a protocol called ÐΞVp2p.

Consensus rules
Ethereum’s consensus rules are defined in the reference specification, the Yellow Paper

Transactions
Ethereum transactions are network messages that include (among other things) a sender, recipient, value, and data payload.

State machine
Ethereum state transitions are processed by the Ethereum Virtual Machine (EVM), a stack-based virtual machine that executes bytecode (machine-language instructions). EVM programs, called “smart contracts,” are written in high-level languages (e.g., Solidity) and compiled to bytecode for execution on the EVM.

Data structures
Ethereum’s state is stored locally on each node as a database (usually Google’s LevelDB), which contains the transactions and system state in a serialized hashed data structure called a Merkle Patricia Tree.

Consensus algorithm
Ethereum uses Bitcoin’s consensus model, Nakamoto Consensus, which uses sequential single-signature blocks, weighted in importance by PoW to determine the longest chain and therefore the current state. However, there are plans to move to a PoS weighted voting system, codenamed Casper, in the near future.

Economic security
Ethereum currently uses a PoW algorithm called Ethash, but this will eventually be dropped with the move to PoS at some point in the future.

Clients
Ethereum has several interoperable implementations of the client software, the most prominent of which are Go-Ethereum (Geth) and Parity.

Note: Ethereum finalized ‘The Merge’ at block #15,537,393 on September 15, 2022, at 1:42:42 EST. Which means that Ethereum has moved from PoW to PoS. Instead of mining, Ethereum will rely on stakers to secure the network.

This article is scrapped from “Mastering Ethereum”