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Title: why is the ledger immutable? blockchain! Post by: angrygroceries on March 16, 2018, 06:17:44 AM why is the ledger immutable?
that goes back to the security and the fundamentals of what is a blockchain. A blockchain is simply a chain of blocks. Each block is a bundle of transactions. Each new block requires the previous block. So, say there is a malicious actor that wants to hide a transaction, or maybe they want to alter the record in some way. Well, they can’t just go into a database and alter it, they can’t go to that block and change it. They need to go back and alter every single block from that point to present. And new blocks are being generated every 10 minutes. A hacker could spend millions and millions trying to hack the network OR they could cooperate and actually mine WITH the network. It’s not only nearly impossible to hack a blockchain, it’s also not in the best interest with regards to profit. Keep in mind this is a very much simplified description from a non-technical perspective. There are nuances that are better explained but just trying to be as concise as possible. |