Define "peer" in IBM Blockchain.

In IBM Blockchain, a peer refers to a network node that plays a crucial role in maintaining the integrity and functionality of the blockchain network. Peers store a copy of the distributed ledger, which is essential for ensuring all participants have access to the same data and can verify transactions independently. This storage capability underpins the transparency and trust that blockchain technology offers.

Furthermore, peers are actively involved in validating transactions within the network. When a transaction is proposed, peers evaluate the transaction against the current state of the ledger to ensure it meets all necessary conditions and does not violate any rules set forth by the chaincode (smart contracts). Upon successful validation, peers collaborate to add this transaction to the blockchain, thereby maintaining a cohesive record across all nodes in the network.

This definition highlights the essential functions of peers in the IBM Blockchain environment, emphasizing their role in ledger management and transaction validation, which are foundational to the operation of blockchain technology.