What are the key security features of blockchain technology?

What are the key security features of blockchain technology?

Blockchain technology is known for its robust security features, including decentralization, cryptographic hashing, and consensus mechanisms.

How does decentralization enhance security?

Decentralization reduces the risk of a single point of failure, making it harder for attackers to compromise the network.

Can you explain how cryptographic hashing works?

Cryptographic hashing transforms data into a fixed-size string of characters, which is unique to the original data, ensuring integrity.

What are consensus mechanisms, and why are they important?

Consensus mechanisms ensure all participants in the blockchain agree on the validity of transactions, preventing fraud.

Are there any vulnerabilities in blockchain security?

While blockchain is secure, vulnerabilities can arise from smart contracts, human error, and network attacks.