Blockchain Principles, Qualities, and Business Applications

Abstract

The two most interesting qualities of the blockchain are decentralization and immutability. A traditional network structure is the ``client-server'' structure where there is a centralized server and everyone who wants to connect with the server can send a query to get the required information. In order for this type of network system to work, it is critical that the server function continuously. Since servers handle a lot of sensitive material, anyone can hack the server and get those pieces of information. Blockchain technology relies on peer-to-peer network architecture as shown in Fig. 3.1.