What makes a Blockchain secure?

Feb 23, 2022

What Makes a Blockchain Secure?

Blockchains are secured through a variety of mechanisms that include: - Advanced cryptographic techniques - Mathematical models of behavior - Decision-making. 

Blockchain technology is the underlying structure of most cryptocurrency systems. The use of blockchain technology is also being explored where data immutability and security are highly valuable.

The Concepts of Immutability and Consensus

Consensus refers to the ability of the nodes within a distributed blockchain network. Typically, the process of achieving consensus is dependent on the so-called consensus algorithms. Immutability, refers to the ability of blockchains to prevent alteration of transactions that have already been confirmed.

They may also refer to the record of other non-monetary forms of digital data. Combined, consensus and immutability provide the framework for data security in blockchain networks.

The Role of Cryptography  in Blockchain Security

Blockchains rely heavily on cryptography to achieve their data security. The so-called cryptographic hashing functions are of fundamental importance. 

Hashing is a process whereby an algorithm receives an input of data of any size and returns an output that contains a predictable and fixed size. Cryptography ensures the security of the wallets used to store units of cryptocurrency.

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