What are the security features of blockchain technology?

What are the security features of blockchain technology?

Blockchain technology offers several 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.

What role does cryptographic hashing play in blockchain security?

Cryptographic hashing ensures data integrity by creating a unique hash for each block, making it nearly impossible to alter past data.

Can you explain consensus mechanisms?

Consensus mechanisms, like Proof of Work and Proof of Stake, ensure all participants agree on the validity of transactions, enhancing security.

Are there any vulnerabilities in blockchain technology?

Yes, while blockchain is secure, vulnerabilities like 51% attacks and smart contract bugs can pose risks.