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Tag Archive concepts

ByJayanthi

Four concepts of Blockchain

Blockchain, the technology disrupter and the decentralized shared ledger has four important points that essentially define it. They are: Consensus, Immutability, Finality, Provenance. This blog post will define these four important concepts.

Provenance:

Blockchain will be a game changer for the supply chain management system. The IBM business blog describes provenance as an “immutable audit trail of ownership & location as it changes over time” (Source: https://www.ibm.com/blogs/insights-on-business/government/proving-provenance-with-blockchain/) This audit trail promotes transparency that can never be achieved with traditional database systems.

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