Blockchain is a revolutionary technology with distinctive features that set it apart

from traditional financial systems. Now let's take a look at blockchain and its major
differences from the current financial system.

Firstly, one of the key features of blockchain is decentralization. Traditional financial

systems are typically controlled and managed by central institutions such as banks,
however blockchain is a network composed of decentralized nodes, without a single
controlling institution. This means that transactions and data on the blockchain are
not subject to the control of any single institution, which let the entire system more
fair and transparent.

Another characteristic is immutability. Transactions and data on the blockchain are

encrypted, verified, and recorded in blocks that form a chain. This ensures the
security and irreversibility of transactions, making them difficult to modify or delete.

Blockchain is also known for its public transparency. Users can engage in transactions
with anonymous identities, while all transaction information is publicly recorded on
the blockchain for anyone to view. This improves privacy protection and prevents
illegal activities and fraud.

The most significant difference between blockchain and the current financial system
is its decentralization. In the traditional system, transactions often rely on
intermediaries like banks, incurring trust and fees. Blockchain eliminates these
intermediaries, allowing direct peer-to-peer transactions, saving time, costs, and
enhancing security.