KEY FEATURES & BENEFITS OF BLOCKCHAIN EXPLAINED Security and Immutability: Once a transaction is recorded on the blockchain, it becomes extremely difficult to alter or manipulate. The decentralized nature of blockchain, along with cryptographic techniques, ensures the integrity and authenticity of data, making it highly secure against hacking or unauthorized changes. Transparency and Trust: Blockchain technology promotes transparency by providing a public and distributed ledger where all transactions are recorded. This transparency enhances trust among participants as anyone can independently verify and audit the transactions and data on the blockchain. Decentralization and Peer-to-Peer Networks: Blockchain enables peer-to-peer interactions, allowing individuals to transact directly without intermediaries. This decentralized architecture ensures that no single entity has control over the network, making it resistant to single points of failure, and manipulation. Programmability and Smart Contracts: Blockchain platforms like Ethereum introduced programmability through the concept of smart contracts. Smart contracts are self- executing contracts with predefined rules and conditions encoded on the blockchain. They automatically execute actions when specific conditions are met.
This publication by St. Cloud Financial Credit Union and/or its employees is not personalized investment advice and is provided without considering the recipients' individual investment objectives, intentions or means. It is intended solely for educational purposes and does not constitute a recommendation or endorsement of any kind. Any commentary expressed in this publication from St. Cloud Financial Credit Union and its employees, is solely for educational use and should not be relied upon as advice. St. Cloud Financial Credit Union and its employees cannot guarantee the validity or accuracy of the information.
ISSUE 1 | WHAT IS CRYPTO & THE BLOCKCHAIN?
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