Pioneering Decentralization
Instead of relying on centralized authority, Blockchain is featured through the collection of nodes. Each node has direct access over it through private key thus making the system Decentralized.
Immutable Approach
Immutable means something that can’t be changed or altered. All the information once stored on the block is verifiable & auditable nut it is not editable.
Highly Secure
As there is no central authority, no one can alter the characteristics of the network for their benefit. It uses a special disguise called “Cryptography” Which adds another layer of protection.
Faster Cross Border Transactions
Blockchain offers faster cross border transactions as compare to traditional system. Traditional system takes 3-4 days to make transaction whereas Blockchain does it more faster. Also the transaction fee is less than the traditional system.
Consensus Algorithm
Consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. Consensus algorithm is responsible for maintaining the integrity and security of Blockchain.
All the information once stored on the block is verifiable & auditable nut it is not editable