A main component of the Earth's core is iron, along with nickel and smaller amounts of other elements. The core consists of two layers: the solid inner core and the liquid outer core. The extreme temperatures and pressures found at these depths cause iron to exist in a solid state in the inner core, while it remains molten in the outer core. The movement of the liquid outer core generates the Earth's magnetic field, which is crucial for protecting the planet from solar radiation and maintaining life.