What is the hierarchy of encryption keys and certificates involved in setting up Transparent Data Encryption?

TDE relies on a hierarchy starting with a service master key at the server level, which protects a database master key, which in turn protects a server certificate, and finally that certificate is used to encrypt the database encryption key specific to each individual database that has TDE enabled, creating a chain of protection from the top level server security down to the actual data.

-- Setting up the key hierarchy from the top down
CREATE MASTER KEY ENCRYPTION BY PASSWORD = 'StrongPassword123!';
CREATE CERTIFICATE MyServerCert WITH SUBJECT = 'TDE Certificate';
CREATE DATABASE ENCRYPTION KEY WITH ALGORITHM = AES_256 ENCRYPTION BY SERVER CERTIFICATE MyServerCert;