Blockchain Functionality

Blockchain as Data Storage

The blockchain data structure, combined with computational constraints and incentive schemes on the creation of blocks can in practice prevent tampering and revision of information stored in the blockchain¹.

Digital Assets

One of the most distinctive capability of blockchain is to create and secure the transfer of digital assets¹.

Assets or properties have two fundamental properties as follows. Because blockchain transactions are globally visible on the ledger, every one can recognize and check the transfer of control or ownership of digital assets registered on the blockchain ¹.

1. When I have property, no one else has it
2. When I transfer that property to you, then I no longer have it.

Blockchain as a computational infrastructure

Smart contracts are used by components connected to a blockchain to reach agreements and solve common problems with minimal trust¹.