Impossible for Hacker to hack the security nodes which has been develop in blockchain
Blockchain technology is one of the latest and innovative inventions in the field of the digital world. A blockchain in the simplest of terms is a data structure that holds transactional records while ensuring security, transparency, and decentralization.
This amazing solution enables peer-to-peer transactions which are a boon for everyone where two or more parties require a common record. This record of data is managed by a cluster of computers and is not owned by any single entity. Each block of data is secured and bound to each other using cryptographic principles (i.e. chain). That makes your data secure at multiple locations which reduces the overall cost of data storage.
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Why blockchain cannot be hacked?
Blockchain technology is a group of different technologies that can be used together in different ways to create different results or applications. It is an open code technology and can be customized infinite times. But, if you want to make changes to any information that is stored on the blockchain server than the majority of the network has to agree on the same which makes this amazing technology transparent and secure.
What makes it secure?
Blockchain technology possesses some incredible and unbelievable features that make this solution one of the most trusted technology-
- Data Encryption:The technology ensures that your data is encrypted, making any form of modification of data a herculean task. A cryptographic signature of file/document also be saved on a blockchain.
- Consensus Systems:In a blockchain, proof-of-work or PoW is the algorithm used to confirm transactions and produce new blocks that can then be added to the chain. To be part of the blockchain, the block has to go through a complex mathematical process so that it can be rendered as an immutable part of the network.
- Transaction Record Immutability: Immutability is one of the most important features of blockchain. Each transaction verified by the blockchain network is time-stamped and embedded into a “block” of information, which is cryptographically secured by a hashing process linking to and incorporating the hash of the previous block.
- Decentralized Data Storage: Each computer has a complete copy of the ledgers of transactions containing all the data. The absence of a single authority makes the whole system fairer and significantly more secure.
- Blocks of Security:Blockchain is a chain of digital blocks that contain records of transactions and the blocks cannot be altered from a single computer.
After going through the above features and properties possessed by blockchain technology it is clear that this incredible solution is one of the most secure data management technology and is one of the best innovations of the digital world.