Every node on the system has a copy of the digital ledger. To add a transaction every node needs to check its validity. If the majority thinks it’s valid, then it’s added to the ledger. This promotes transparency and makes it corruption-proof.
Hashing is quite complex, and it’s impossible to alter or reverse it. No one can take a public key and come up with the private key.
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As the system doesn’t require any governing authority, we can directly access it from the web and store our assets there.
Every information on the blockchain is hashed cryptographically. In simple terms, the information on the network hides the true nature of the data.
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Although the case for private or federated blockchain is a bit different. But still, in those cases many people can see what really goes on in the ledger.
the consensus is a decision-making process for the group of nodes active on the network. Here, the nodes can come to an agreement quickly and relatively faster.
