What is a blockchain?


he blockchain is a record of information that is not subject to manipulation, which is available to a specific cluster of participants.

The three main characteristics of the blockchain are: decentralization, transparency, immutability. 

As for the centralized authorities, the banks are a clear example of them. In their structure there is one main authority, which is responsible for all ongoing processes, operations and participants in the system. 

Decentralization is a concept that shows the world that each participant can have access to any information in a particular network, which leads to the second characteristic – transparency. 

It is the lack of a single management and control apparatus that contributes to the development of a system that is fully accessible to all stakeholders. 

The immutability of the blockchain is an advantage inherent in the way the chain is created.

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