The ledger is the one place that determines the ownership and transaction history of an asset.

University of Michigan - Ann Arbor

- Consensus
- Provenance
- Immutability
- Finality

Characteristics of blockchain networks

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

All participants in the network know the origins of an asset and its transaction/ownership history.

Provenance of blockchain

All parties must agree on a transactions validity for it to be accepted as valid.

Consensus of blockchain

Participants in the network are not able to tamper with transactions after it's on the ledger. When a transaction has an error, only another transaction can fix the error (both transactions are recorded and available to the network).

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