How does the ether blockchain ensure the security and immutability of transactions?

3 answers

• SayrexApr 28, 2021 · 4 years ago
  Certainly! The ether blockchain ensures the security and immutability of transactions through a combination of cryptographic techniques and consensus mechanisms. Transactions on the ether blockchain are secured using public-key cryptography, where each user has a unique pair of cryptographic keys: a public key and a private key. The private key is used to sign transactions, while the public key is used to verify the authenticity of the transaction. Additionally, the ether blockchain uses a consensus mechanism called Proof of Work (PoW), where miners compete to solve complex mathematical puzzles to validate transactions and add them to the blockchain. This ensures that transactions are verified by multiple independent parties, making it extremely difficult for any malicious actor to tamper with the transaction history. Furthermore, once a transaction is added to the blockchain, it becomes immutable, meaning it cannot be altered or deleted. This is achieved through the use of cryptographic hash functions, which generate a unique hash for each block that contains the transaction data. Any change to the transaction data would result in a different hash, making it easy to detect and reject any tampered blocks. Overall, the combination of cryptographic techniques and consensus mechanisms employed by the ether blockchain ensures the security and immutability of transactions.
  1390

  695
• King NnaemekaOct 03, 2021 · 4 years ago
  The security and immutability of transactions on the ether blockchain are maintained through a decentralized network of computers, known as nodes, that collectively validate and record transactions. When a transaction is initiated, it is broadcasted to the network and picked up by the nodes. Each node independently verifies the transaction using cryptographic algorithms and checks its validity. Once the transaction is verified, it is bundled with other validated transactions into a block. Before a block is added to the blockchain, it must go through a consensus process where a majority of the nodes agree on its validity. This consensus mechanism ensures that only legitimate transactions are added to the blockchain, preventing any unauthorized changes. Once a block is added to the blockchain, it becomes part of a permanent and unchangeable record. This is because each block contains a reference to the previous block's hash, creating a chain of blocks that are linked together. Any attempt to modify a transaction in a previous block would require changing the hash of that block and all subsequent blocks, which is computationally infeasible due to the decentralized nature of the network. Therefore, the ether blockchain ensures the security and immutability of transactions by leveraging cryptographic algorithms, decentralized consensus, and the chaining of blocks.
  1381

  461
• farhan muhharamMar 26, 2023 · 2 years ago
  As an expert in the field, I can assure you that the ether blockchain is designed with robust security measures to ensure the integrity and immutability of transactions. The security of transactions is achieved through the use of cryptographic algorithms, such as public-key cryptography, which ensures that only authorized parties can initiate and verify transactions. The immutability of transactions is guaranteed by the blockchain's decentralized nature and consensus mechanisms. Transactions are validated and added to the blockchain by a network of independent nodes, each of which verifies the transaction's validity. Once a transaction is added to the blockchain, it becomes part of a permanent and unalterable record that is distributed across the network. This distributed nature of the blockchain makes it virtually impossible for any single entity to manipulate or tamper with the transaction history. Additionally, the use of consensus mechanisms, such as Proof of Work or Proof of Stake, ensures that the majority of nodes in the network agree on the validity of transactions before they are added to the blockchain. This further enhances the security and immutability of transactions on the ether blockchain. In conclusion, the ether blockchain employs a combination of cryptographic techniques, decentralization, and consensus mechanisms to ensure the security and immutability of transactions.
  1410

  353