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A CMS block is basically a template consisting of one or more CMS elements. A CMS element may be used by default in one of the pre-existing CMS blocks. However after placing a block you can still replace any of the elements. So an element may exist independently of a block, as it can be used in any block by switching the default elements. Thatβs the reason for the separation of blocks and elements. In short you never place elements directly, you place blocks and then within the block you may exchange the elements.
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Source:stackexchange.com