What Are The Important Features Of Blockchain? | 6 Key Major Blockchain Features | CoinsCapture

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What Are The Important Features of Blockchain?
Coinscapture
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https//coinscapture.com/blog/what-are-the-importa
nt-features-of-blockchain

• The blockchain has definitely invented a new era
  of internet due to its unique features. Lets
  understand some of them
• 1.    Large capacity Blockchains capacity
  completely depends on the number of computers
  connected with the network. The more computers
  are added, the larger is the capacity of the
  blockchain.
• 2.    Best security  Blockchain technology has
  the best security because each transaction on the
  network is tamper-proof. As the network is
  secured by the number of computers called as
  nodes and these nodes confirms the transaction in
  the network. So to hack the blockchain it would
  be like trying to sneak a single door guarded by
  hundreds of dogs.
• 3.    Transparency- As each block is visible to
  every participant of the network. So the trust
  issue which gradually builds up into two parties
  during a business deal is impossible.

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nt-features-of-blockchain

• 4.    Immutability- In blockchain technology, the
  data is always encrypted, i.e. the data once
  added can neither be deleted nor changed. This
  feature makes the possibility of hacking close to
  impossible
• 5.    Decentralization- Any data that is
  centralized is subjected to be hacked because we
  have to depend on the third party to secure it,
  but when the data is decentralized, this is not
  the scenario. In this, the data is stored on a
  network in which only you have direct access.
• 6.    Faster settlement- Many traditional banking
  systems usually takes days to precede a
  settlement. Using blockchain technology, the
  settlement time can be reduced as the money
  transfer can take place very fast through it.
  This saves a lot of time and also provides
  convenience to the consumer.
• So, this was a small summary of some important
  features of the blockchain. Stay tuned with us
  for more understanding of the blockchain.