Features of blockchain

We will now discuss the following features of blockchain:

  • Secure: It is really impossible for anyone to tamper with transactions or ledger records present in the blockchain, which makes it more secure, so it is seen as a reliable source of information.
  • Global reach: Blockchain has been adopted worldwide and has the backing of many investors from banking and non-banking sectors, which makes it a globally accepted technology stack.
  • Automated operations: Operations are fully automated through software. Private companies are not needed to handle operations, which is why there is no mediation required to carry out the transactions, and trust is assured, so people can carry out their own transactions.
  • Open source: Blockchain is an open source technology. All the operations are carried out by the open source community.
  • Distributed: Blockchain works in a distributed mode, in which records are stored in all nodes in the network. If one node goes down, it doesn't impact any other nodes or any other records, because they are globally distributed across all the nodes.
  • Flexible: Blockchain is programmable, using basic programming concepts and programming semantics, which makes blockchain very flexible.
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