Why is Blockchain a trusted approach?

Blockchain may be trusted for a number of applications. The first thing that springs to mind when considering its open-source status is its interoperability with other commercial software. The second consideration is its security. The creators devoted special attention to keeping up with the times in terms of security because it was meant to be used for online transactions. Regardless matter the sort of business one owns, blockchain will be beneficial.

At its core Blockchain enables :

  1. Transparency - All participants in the network are aware of the transactions

  2. Consensus - All participants agree to how a transaction is written into the blockchain

  3. Immutability - Once the transaction is written it cannot be changed (theoretically it can be changed, but it will be super expensive to do so and hence impractical)