Blockchains (aka decentralized ledgers) can be described as data structures with the following inherent attributes:

  • Decentralized: Determined by a majority consensus of the networks’ participants.
  • Immutable: Data can only be added on the structure; cannot be altered or removed.
  • Transparent: Data is publicly available for anyone to review.
  • Open: The network is open for anyone to participate.
  • Secure: Powered by strong cryptography.