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

What are the important features of
blockchain? | Coinscapture.com
https://coinscapture.com/blog/what-are-the-important-features-of-blockchain
The blockchain has definitely invented a new era of internet due to its unique
features. Let’s understand some of them:
1. Large capacity: Blockchain’s 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.
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.