My Favorite Blockchain Network || 2nd Part

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Hey buddy,

Guess who's here again? It still your favourite blogger @awesononso and guess what, we shall be discussing on another exciting topic in the cryptospace.

I trust everyone here is perfectly fine and following the rules of the community.

In our last post, we learnt about some features of blockchain technology but we couldn't complete it and today, we shall be learning more about the features of blockchain technology.

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FEATURES OF BLOCKCHAIN TECHNOLOGY

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As earlier stated, there are different key features that makes up the blockchain, and without this features, it will be difficult for a blockchain to work properly.

• SECURITY:

One key feature of the blockchain technology is security and without a advanced security, the blockchain technology will loose it's value.

The blockchain technology is known to be a technology that makes use of cryptographic techniques to securely carry out it's activities and record information.

The decentralized nature if the blockchain contributes greatly to it's security.

Being decentralized implies that each user have full authority over their account and no one can have unauthorized access to the account.

The blockchain is often secured with the use of cryptographic keys which are group into two (private keys and public keys).

The public keys is often used as wallet address to send funds into the account and it can be shared publicly but the private keys I not meant to be shared among anyone as it is being used to send funds out of the account.

Before another can have unauthorized access to one's account, he needs to have access to his private keys and this is very difficult to do.

• IMMUTABILITY OF TRANSACTIONS:

Another feature of the blockchain is that it is Immutable in nature.

Immutability nature of the blockchain implies that anything recorded on the blockchain can not be altered nor deleted.

The Immutable nature of the blockchain makes it extremely difficult for transactions for fraudulent activities to be done on the blockchain.

Every transaction carried out on the blockchain is permanently stored and cannot be tampered by any individual.