Blockchain is the secured platform where each encrypted data blocks are interconnected with one another as it has a distributed ledger holding the transaction records. Blockchain has three distinct features like Immutable, transparent, and decentralized.
As blockchain is a decentralized network eliminating 3rd party like a bank. Each node in decentralized network work as peer to peer system on a blockchain platform. Cryptocurrency is built with a secured blockchain platform as it is based on decentralization.
Transparency in which the transactions held on the blockchain are viable to the parties involved in the transactions. No one can hide anything in the transactional data.
Immutable data are stored on a distributed ledger no one can alternate the data on the blockchain as they are transparent and impossible to alter the data or data hacking is not possible as the data blocks are encrypted with a hash algorithm.
The great particularity of the Blockchain is its decentralized architecture, which is to say that it is not hosted by a single server but by some users. There is no intermediary so that everyone can check the validity of the chain itself. The information contained in the blocks (transactions, title deeds, contracts, etc.) is protected by cryptographic methods that prevent users from modifying or falsifying them.
Cryptocurrency wallets are built over the Blockchain platform to secure virtual currencies on the Crypto Exchange platforms.
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