Basic Features of Blockchain

Blockchain has decentralization, information immutability, anonymity and other features.

Decentralization：

Blockchain uses distributed accounting and storage, and relies on various "nodes" on the network (blockchain participants) for fair constraint and maintenance. As a result, all nodes have equal rights and obligations, which is the feature of "decentralization".

The advantage of decentralization is that it does not pose a threat to the whole blockchain network when a certain node in the system is damaged or attacked.

Information Immutability:

Once validated and added to the blockchain, information will be stored permanently. Unless a single node can control over 51% of the nodes in the whole system, otherwise modification of the database on this single node is invalid. This is the “information immutability” of the blockchain.

Anonymity:

By following algorithms and rules, nodes on each block can initiate transactions and conduct data interaction without knowing or verifying each other’s identity information (trust is not required).  

For this reason, both parties are not able to know each other's identity when a transaction on blockchain is completed. If a hacker steals your private key, you can't tell who he/she is from the wallet address.