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What are the key characteristics of a blockchain?
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Answer / Abhilasha Rastogi
Key characteristics of a blockchain include: decentralization, transparency, immutability, security, and efficiency. Decentralization means that no single entity controls the network, while transparency allows all participants to see the transactions taking place on the network. Immutability ensures that once data is recorded in a block, it cannot be altered without invalidating subsequent blocks, providing a permanent record of events. Security is enhanced through cryptographic techniques and consensus algorithms, making it difficult for unauthorized parties to modify the blockchain. Efficiency is achieved through the use of Merkle trees and other optimizations.
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