Why is the ledger in the blockchain considered to be transparent and immutable?

3 answers

• Nov 27, 2021 · 3 years ago
  The transparency of the ledger in the blockchain is achieved through the public nature of the blockchain network. Every transaction that occurs on the blockchain is recorded and can be viewed by anyone. This transparency ensures that all participants in the network have access to the same information, reducing the risk of fraud or manipulation. The immutability of the ledger refers to the fact that once a transaction is recorded on the blockchain, it cannot be altered or deleted. This immutability is achieved through the use of cryptographic algorithms and consensus mechanisms. It ensures that the integrity of the ledger is maintained and prevents unauthorized changes to the data. Together, transparency and immutability contribute to the overall security and trustworthiness of the blockchain by providing a verifiable and tamper-proof record of all transactions.
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• Nov 27, 2021 · 3 years ago
  Think of the blockchain ledger as a transparent glass box that everyone can see into. Every transaction that takes place on the blockchain is like a piece of paper that gets added to the box. Once it's in there, it can't be taken out or changed. This transparency and immutability make the blockchain ledger highly secure and trustworthy. It means that no one can cheat the system or manipulate the data. Everyone can see exactly what's happening on the blockchain, which helps to build trust and confidence in the technology. So, when people say that the ledger in the blockchain is transparent and immutable, they're talking about the fundamental characteristics that make it so reliable and secure.
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• Nov 27, 2021 · 3 years ago
  The transparency and immutability of the ledger in the blockchain are two key features that set it apart from traditional centralized systems. The transparency is achieved through the use of a distributed network of computers, where every participant has a copy of the entire blockchain. This means that every transaction is visible to all participants, creating a high level of transparency. The immutability is achieved through the use of cryptographic hash functions and consensus algorithms. Once a transaction is added to the blockchain, it becomes part of a chain of blocks that are linked together using these cryptographic functions. This makes it virtually impossible to alter or tamper with the data without the consensus of the majority of participants. The transparency and immutability of the blockchain ledger contribute to its overall security and trustworthiness by ensuring that all transactions are recorded and cannot be changed retroactively.
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