Key Features of Blockchain

1. Decentralization: Unlike traditional ledgers held by a single authority, blockchains operate on a peer-to-peer network. This distribution of data enhances security and reliability.

2. Transparency: All participants in the network can view the entire transaction history. This openness fosters trust among users since everyone can verify transactions independently.

3. Immutability: Once data is added to the blockchain, it cannot be altered. This feature ensures the integrity of the information, as any attempt to change it would be evident to all network participants.

4. Security: Transactions on a blockchain are protected by cryptographic algorithms. This means that data is encoded, making unauthorized access extremely difficult.