What are the important features of blockchain technology

Blockchain is an important technology. It has an implicit change in the future. Wherever a machined trust is needed, this technology can play a job. Here are some of its prime features.

Transparency

When using a blockchain platform, once the payment is issued by a party, the other party can immediately check the deal record without having to depend on any monetary institution.

Changes to public blockchains are intimately viewable by all parties to create clarity, and all deals are inflexible, meaning they can not be changed or deleted.

Image source: Google

Security

Blockchains tend to hold better security because there's no single point of failure to shut down the network. Indeed the topmost situations of our monetary system are susceptible to hacks.

Data is secure because of encryption with private and public keys. Public keys are aimlessly generated as a long string and intimately participated. The private key is used as a word to pierce users' data.

Flexibility in usage

Blockchain technology has a high flexibility of usage because it has several applications and a top level of security.

Integrity

Users can trust those transactions where they are executed as the protocol commands removing the need for a trusted third party. It can save time and money for the entire business industry.

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