Immutable transactions: Difference between revisions
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In plain English, immutability is used to denote something which can never be modified or deleted. In a blockchain, it refers to the logs of transactions, which is created by consensus among the chain’s participants. The basic notion is this: once a blockchain transaction has received a sufficient level of validation it can never be replaced or reversed or edited.<ref>https://www.quora.com/What-makes-a-blockchain-network-immutable</ref> | |||
Immutability can be defined as the ability of a blockchain ledger to remain unchanged, for a blockchain to remain unaltered and indelible. More succinctly, data in the blockchain cannot be altered. | |||
Each block of information, such as facts or transaction details, proceed using a cryptographic principle or a hash value. That hash value consists of an alphanumeric string generated by each block separately. Every block not only contains a hash or digital signature for itself but also for the previous one. This ensures that blocks are retroactively coupled together and unrelenting. This functionality of blockchain technology ensures that no one can intrude in the system or alter the data saved to the block. | |||
It is also important to know that blockchains are decentralized and distributed in nature, where a consensus is made among the various nodes that store the replica of data. This consensus ensures that the originality of data must be maintained. Undoubtedly, immutability is a definitive feature of this technology. This concept has the ability to redefine the overall data auditing process and makes it more efficient, cost-effective, and brings more trust and integrity to the data.<ref>https://dzone.com/articles/a-guide-to-blockchain-immutability-and-chief-chall</ref> | |||
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Latest revision as of 21:53, 8 March 2020
In plain English, immutability is used to denote something which can never be modified or deleted. In a blockchain, it refers to the logs of transactions, which is created by consensus among the chain’s participants. The basic notion is this: once a blockchain transaction has received a sufficient level of validation it can never be replaced or reversed or edited.[2]
Immutability can be defined as the ability of a blockchain ledger to remain unchanged, for a blockchain to remain unaltered and indelible. More succinctly, data in the blockchain cannot be altered.
Each block of information, such as facts or transaction details, proceed using a cryptographic principle or a hash value. That hash value consists of an alphanumeric string generated by each block separately. Every block not only contains a hash or digital signature for itself but also for the previous one. This ensures that blocks are retroactively coupled together and unrelenting. This functionality of blockchain technology ensures that no one can intrude in the system or alter the data saved to the block.
It is also important to know that blockchains are decentralized and distributed in nature, where a consensus is made among the various nodes that store the replica of data. This consensus ensures that the originality of data must be maintained. Undoubtedly, immutability is a definitive feature of this technology. This concept has the ability to redefine the overall data auditing process and makes it more efficient, cost-effective, and brings more trust and integrity to the data.[3]