What is the meaning of immutable in the context of cryptocurrencies?

3 answers

• Nov 27, 2021 · 3 years ago
  In the context of cryptocurrencies, 'immutable' refers to the property of blockchain technology that ensures once a transaction is recorded on the blockchain, it cannot be altered or tampered with. This means that the transaction history on a blockchain is permanent and cannot be changed, providing a high level of security and trust. The immutability of cryptocurrencies is important because it prevents fraud, double-spending, and manipulation of transaction records.
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• Nov 27, 2021 · 3 years ago
  Immutable in the context of cryptocurrencies means that once a transaction is confirmed and added to the blockchain, it becomes a permanent part of the public ledger. This ensures that the transaction cannot be reversed or modified, providing a transparent and trustworthy system. The immutability of cryptocurrencies is one of the key features that differentiates them from traditional centralized systems, as it eliminates the need for intermediaries and allows for peer-to-peer transactions.
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• Nov 27, 2021 · 3 years ago
  Immutable, in the context of cryptocurrencies, means that the transaction records stored on the blockchain cannot be changed or altered. This is achieved through the use of cryptographic algorithms and consensus mechanisms that ensure the integrity of the data. Immutable transactions provide a high level of security and trust, as they cannot be manipulated by any single entity. This is why blockchain technology is considered to be a revolutionary innovation in the financial industry.
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