Other benefits of blockchain include its resistance to hacking and data alteration. In order to manipulate the blockchain, an attacker would have to control more than 50 per cent of the nodes in the network, which is virtually impossible. Blockchain also helps prevent double-spending, one of the main problems of digital currencies.
Blockchain as a technology offers many opportunities. One of the most well-known and widely used is the use of blockchain in cryptocurrencies such as Bitcoin. Blockchain allows for safe and secure transactions without intermediaries. In addition, blockchain can also be used to register property rights, control the supply chain, voting and many other areas.
Another important feature of blockchain is its transparency. All transactions that pass through the blockchain are visible to all participants in the network. This ensures that the data is open and non-exchangeable. In addition, blockchain also allows for data security through cryptographic methods.
One of the key features of blockchain is its decentralised nature. Unlike traditional centralised systems, where information is stored on a central server, blockchain is distributed across different nodes in the network. This means that each member of the network has a copy of the entire blockchain and can verify its integrity.