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Understanding Blockchain Technology: Features, Nodes, Transactions, Platform, Security, and Disadvantages

   

Added on  2023-06-14

13 Pages587 Words414 Views
BLOCKCHAIN TECHNOLOGY
Understanding Blockchain Technology: Features, Nodes, Transactions, Platform, Security, and Disadvantages_1
SHARED LEDGER
This is the basic feature of a block chain.
Shared ledger is a type of account book
where business transaction can be
recorded.
Shared ledger is often termed as
distributed ledger[1].
Understanding Blockchain Technology: Features, Nodes, Transactions, Platform, Security, and Disadvantages_2
Immutable database
Block chain may be viewed as
database of immutable information
for every transaction replicated on
servers and this maintained by
network of computers with no
central authority [2].
Information is organized so that
they can be updated and accessed
easily.
Understanding Blockchain Technology: Features, Nodes, Transactions, Platform, Security, and Disadvantages_3
Block chain nodes
Peer-to-peer networking model
is implemented in block chain
[3].
No need for special server
node.
Services are consumed equally
by each node. Nodes follow
consensus rules.
Upgraded copy of database is
kept by each node.
Understanding Blockchain Technology: Features, Nodes, Transactions, Platform, Security, and Disadvantages_4

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