What is Blockchain?

In short, blockchain technology can keep track of all transactions within a system along with their details in a secure and transparent manner.

Five Properties：

1. Decentralization

2. Consensus

3. Anonymity

4. Immutability

5. Traceability

Three main benefits:

1. Better security: Transactions are secure and private.

2. Better Efficiency: Transaction records are transparent.

3. Better Reliability: Increased data accuracy prevents transaction records from being manipulated.

The Core of Blockchain: Decentralization and Security

The distributed ledger system is why blockchain is decentralized and does not require a central authority to operate. Each member shares equal rights and obligations as well as opportunities to gain rewards. A decentralized distributed ledger also provides better security measures against fraud and cyberattacks.

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