Blood has three main functions: transportation, regulation, and protection. It transports oxygen, nutrients, waste, hormones, and more. Blood regulates temperature and pH. Its protective functions include clotting and immune responses. Blood is composed of plasma and formed elements like red blood cells, white blood cells, and platelets. When a blood vessel is damaged, platelets adhere and activate clotting factors to form a platelet plug and fibrin mesh that stops bleeding. Clots are later dissolved by plasmin to repair the damaged vessel.