Blockchain for business is useful for entities that conduct transactions with one another. Blockchain also allows a solution to rapidly size and scale. Blockchain for business provides these advantages based on four distinct characteristics of the technology:
Consensus: Shared ledgers are only updated after the transaction has been validated by all relevant participants.
Replication: When a block — the record of an event — is accepted, it is automatically imitated across all ledgers for all channel participants. Each network partner sees and shares the same "trusted reality" of the transactions.
Immutability: More blocks can be added but not removed, ensuring a permanent record of every transaction and increasing stakeholder trust.
Security: Only approved entities are permitted to create and access blocks. Only trusted partners are granted access.
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