Is Blockchain secured? If yes, how?

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We have been hearing a lot of Blockchain and how steemit is built on it. Basically everything that's controlled by a central authority has security which governs how accounts are operated. How about Blockchain that has no central authority?

Does it makes it less or more vulnerable? Or if Blockchain is more secured than centralized platforms, how secured is it and what governs its security? I guess we all would want to know how secure Blockchain is since the platform we work on is built on one.

Blockchains are actually secured through mechanisms ranging from cryptographic techniques that are advanced involving encryptions and hashes to mathematical models. Blockchain is one of the reasons why most cryptocurrency systems and their coins are backed and structured in a way that duplication and destruction of these digital assets are prevented.

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Asides, digital currencies, Blockchain technology is employed in various context because of its underlying immutability and security. How secure is this Blockchain technology that it can barely be hacked by anyone and what features backs its security?

The following concepts gives this innovative technology robust protection in terms of people's data and identities.

These are the most important features that play a vital role in ensuring security of Blockchain technology. Consensus refers to the ability of central nodes to agree on the validity of transactions and also on the state of a particular network in a distributed Blockchain network. while immutability refers to blockchain's ability to prevent alteration of confirmed transactions in a network.

To achieve consensus, consensus algorithms are required which ensures the protection of data in blockchains network.. These consensus algorithms ensures that the rules in a system are followed and that there must be an agreement in terms of the true state of a network.

Immutability guarantees the integrity of transaction records after the validity of new block of data.

Crytographing in this context involves the use of hash functions to ensure data security. This also have an important role in Blockchain technology as it solely rely on it for this purpose. Hashing is simply the process of an input of data of any size by an algorithm or hash function and then returning an output called hash of fixed size.

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These hashes or output values are very unique identifiers of for data blocks. The hash of blocks is generated in relation to those of previous blocks and the data contained , creating a chain of blocks to be linked. If data in a block is changed, there'll also be changes in block hash.

Hashing also leverage with consensus mechanism to ensure validation of transactions and protects wallets used in storing digital assets, that's why there's an existence of encryption keys or addresses both public and private in Blockchain based forums.

These keys are created through the use assymetric Cryptography, making it possible to authenticate ownership of coins or assets sent from one user to another. These keys also prevent unauthorized access to people's wallet except the owner of the wallet with his keys.

Most of us may have wondered why we received a pdf of encryption keys when creating account here instead of inputting our own password. This is a product of cryptography which ensures security of Blockchain based forums.

In conclusion, we have seen the various features the Blockchain has to enhance its security. This alone forms a basis for us to know it's not centralized. Looking forward to discussing one of the features of blockchain that enhances its security which is Consensus.

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Disclaimer: Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have.