What is the primary feature of a blockchain ledger? 🔊
The primary feature of a blockchain ledger is its decentralization, which enhances data integrity and security. Each transaction is recorded in a block, which is securely linked to prior blocks through cryptographic hashes, forming a chain. This structure ensures that altering any block would require consensus from the network, making fraud or tampering extremely difficult. Since the ledger is distributed among all participants in the network, it promotes transparency and trust, eliminating the need for a central authority. Furthermore, the immutability of the blockchain enhances accountability, making it suitable for various applications beyond cryptocurrency, such as supply chain management and digital contracts.
Equestions.com Team – Verified by subject-matter experts