The costs related to verifying information of past transactions, transaction attributes, and current ownership of digital assets on the blockchain.

Costs of Verification on the Blockchain

- Reduces the probability of leaving market power in the hands of their founders or early participants
- Less reliance on intermediaries
- Lower privacy risk
- More competition/incentives

Advantages of Blockchain in Networking

Blockchain transactions don't need intermediaries for third-party validation. Less oversight is needed since the "policing" of the system is distributed over the entire network. 

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- Cost-effective
- Efficient
- Safe and secure
- Building trust
- Business benefits

Advantages of blockchain

Gupta, Manav. Blockchain For Dummies® IBM Limited Edition, IBM, bertrandszoghy.files.wordpress.com/2017/05/ibm-blockchain-for-dummies.pdf. 

Blockchain For Dummies® IBM Limited Edition

Cost effectiveness of blockchain

The shared, distributed ledger allows for information to be recorded once and is made available to all parties in the network, eliminating the need for a central authority. This also eliminates the need for different parties to duplicate the transaction recordings. 

Efficiency of blockchain

Transactions can't be changed on the distributed ledger and can only be reversed through additional transactions (but all past transactions are still visible). This prevents fraud and cybercrime. Networks can additionally be "permissioned" so only members can make transactions.

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