What are the main characteristics of Blockchain?
What are the main characteristics of Blockchain?

Some of the main characteristics of Blockchain are as follows:

Global: In Blockchain, everyone can access and read entries in the database. It is globally accessible.

Transaction: If you want to change any value in Blockchain, then you have to create a transaction. This transaction has to be acceptable by other participants in Blockchain. Let say we want to transfer electronic currency from one account to another account in Blockchain, the transaction will be complete only when money is subtracted from sender and added to recipient. Crypto-signed: In Blockchain, a transaction has to be cryptographically signed by the sender. Due to this, only the person creating the transaction can transfer money.

Double spend: In case there are two transactions that want to subtract money from the same account. This may cause double-spending. In Blockchain this issue is overcome by maintaining the order of transactions. These transactions are bundled in a Block and these are executed one after another. Due to this, the second transaction may not be successful after the execution of the first transaction.
['Chintan Dave']
['Blockchain', 'Blockchain Technology', 'Blockchain Development', 'Blockchain Startup']