Blockchain has the following characteristics:
Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes information self-verification, transmission and management through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain.
Openness. The foundation of blockchain technology is open source. In addition to the private information of the transaction parties being encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop related applications through the public interface. Therefore, the entire System information is highly transparent.
Independence. Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm used by Bitcoin), the entire blockchain system does not rely on other third parties. All nodes can automatically and securely verify and exchange data within the system without the need for Any human intervention