BSc IT - Advanced Database Management System

Characteristics of Blockchain (In Short):

1. Decentralized – No central authority; data is stored across a network of computers.
2. Distributed Ledger – All participants have a copy of the same data.
3. Immutable – Once data is added, it cannot be changed or deleted.
4. Transparent – All transactions are visible to participants.
5. Secure – Uses cryptography to secure data and verify transactions.
6. Trustless System – Parties don’t need to trust each other; trust is based on math and code.
7. Tamper-Evident – Any attempt to alter data is easily detectable.
8. Consensus Mechanism – Network agrees on the validity of transactions using methods like Proof of Work or Proof of Stake.