A blockchain is a distributed ledger technology that securely records information using a peer-to-peer, consensus-driven network. It is secure, decentralized, immutable, and transparent.
- Secure: Blockchain Technology stores information in blocks which are chronologically synchronised. No single individual can alter the contents of these blocks, making blockchain highly secure.
- Decentralised: Distributed ledger technology powered by peer-to-peer consensus keeps records of transactions and their details in multiple places without any central or trusted third-party authority.
- Immutable: It is impossible to delete or edit a block once it is sealed cryptographically, or added to the main chain.
- Transparency: Transactions are visible via personal nodes or blockchain explorers. All of a user's transactions can be verified and tracked.