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Transparency: one of the essential aspects of the blockchain is its transparency. For all parties to share the same documentation for every transaction creates a trustless, accurate, and communal system.
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Security: because blockchain is built on a highly available, decentralized network, security is built in on several levels. Security through traceability, transaction finality, transparency, incentives, and participation all contribute to creating a trustless system.
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Improved traceability: provenance and creating a trustless system in which transactions, supply chain or any transfer of ownership give the power back to the people and allows people and businesses to see a record of every transaction.
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Increased efficiency and speed: this is such a great benefit in that the blockchain is always available, online, and accessible to transact in a faster and more efficient way. The ability to automate transactions or cut out intermediaries to ensure trusted transactions, the blockchain is much more efficient.
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Reduced cost: how much is spent of verifying transactions? The blockchain eliminates the need to pay 3rd parties to verify a contract or a transaction. With all parties privy the same verified information, trust is built in to the sytem.
- Transparency: Increases validity as you can see the historical transactions and therefore trust the ledger.
- Security: Multiple validators allow redundancy and therefore there is no single physical point of attack.
- Improved traceability: Allows easier audits.
- Increased efficiency and speed: Less use of middlemen/third parties which add to time and manual confirmations.
- Reduced cost: Less use of middlemen/third parties which add to cost and time.
- everyone has access to the immutable ledger and can see whats going on
2.transactions are agreed upon and encrypted and shared over the network
3.audit trails are easier to do on a block chain
4.no human error or paper heavy processes increase efficiency and speed
5.middle men and third parties are not required
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Transparency: The blockchain is a distributed ledger which shares the same documentation with everyone.
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Security: Transactions are agreed and added to the ledger. The fact that the transactions are shared across the network makes it too difficult to tamper with.
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Improved traceability: Traceability is made simpler because the blockchain leaves an audit trail which is verifiable.
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Increased efficiency and speed: Everybody has the same ledger and so all the information is easily accessible.
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Reduced cost: Removes middlemen and so is much cheaper.
Transparency:
All parties involved are using the same blockchain (ādatabaseā), instead of each of them using their own databases in their own company on their own servers. This shared blockchain is a public ledger and each of the parties involved have the same view of the data that is being stored on blockchain. When one of the parties wants to add something to the public ledger everyone else will see the data that has been updated.
Security:
To understand security we really need to understand how the blockchain technology works. Blockchain literally means a chain of blocks. There is a predetermined time (not sure about that), lets say 10 min, that a new block is being made. Each block contains all the data of all the previous transactions made on the previous blocks plus the new transactions and changes that happened since last block. In order to approve the last block all the nodes that are running the infrastructure have to approve that the new block consists of all the previous transactions plus new ones and each of the nodes have to have exactly the same information about the past happening on the block plus the new happening. This means that in order to change some transactions in the past you have to change each and every block made so far and do it on all other nodes simultaneously during the 10 mins time while the new block is created. With current computing power this is literally impossible. That is why, blockchain has the highest security among data infrastructures.
Improved Traceability:
If everyone in the supply network is involved in usage of blockchain technology the traceability is very easy and transparent. As it is a public ledger and also its previous data inputs cannot be changed there is ultimate trust in the data provided on the blockchain. Once someone at the beginning of the supply network puts data on the blockchain it can be easily and trustful verified by someone on the end of the supply network.
Increased efficiency and speed:
I will take again example on supply chain. Nowadays the parties involved in the same supply chain have their own IT infrastructure. Those IT infrastructures use different IT technologies in order to store, save, record and send information. In order there has to be a trade made between 2 different parties in the same supply chain, they have to undergo a certain process which transforms their data to make it accessible to other party involved in the trade. This takes time and a lot of unnecessary work and clutter is created. By using Blockchain all of the parties are communicating through the same infrastructure, thus reducing the time as they are using the same standard to communicate and exchange certain information and values.
Reduced cost:
In order to trust the internal processes of the parties involved in the before mentioned supply chain, nowadays there has to be an audit firm that proves that everything was made correctly and truthful. Someone has to pay for those audits. With the use of global blockchain infrastructure these audits from third parties are not necccesary as all the data is stored on the same blockchain, which is publicly open to all parties involved. There is no chance of modifications once the input on blockchain has been made and everything is verifiable, which enables real-time audits by the parties involved itself.
Transparency:
Everybody can verify (with a block explorer) and trace every transaction flow in the entire history of that blockhain
Security:
Not having a single point of failure gives an encreased security and it also secures itself.
Improved traceability:
You can at all times prove or cross-verify the informations and transactions right to the initial source.
Increased efficiency and speed:
Because the transactions are verified by the network in real time and globally 27/7, you donāt have down time (like a normal bank) and because it is done automatically this increases the speed of that transaction.
Reduced cost:
Humans doing what machines and programs can do more efficienly and also faster, means increased operational cost. With blockchain those costs are reduced drastically.
1 - Transparency: Everyone shares the same information/documentation that was recorded on blockchain with everyoneās agreement.
2 - Security: The information is recorded on the blockchain with everyoneās agreement, it canāt be done with one or part of the participants. The blocks are cryptographically linked, so if a block is changed the following blocks become invalid. The blockchain information is replicated among all computers that make part of the network, it is very improbable to shutdown/ compromise all of them.
3 - Improved traceability: Blockchain information is immutable, it canāt be altered or deleted. Participants have access to the same information, they can verify the authenticity and retrieve transactions history.
4 - Increased efficiency and speed: All participants share the same information/ledger, which avoids multiple ledgers/ silos of information and the need to reconcile and maintain them.
5 - Reduced cost: the blockchain information is the same for all participants and everyone can trust it. This eliminates man in the middle and reduces costs.
Explain with your own words, why these are the benefits of using a blockchain.
- Transparency: All partners have access to the information involving the concensus to confirm the integrity
- Security: Transparency helps the trustless action. So it is secure against the double spending because the concensus highlight the false transaction.
- Improved traceability: The inner structure makes easy to revise the previous step and follow to the origin of the blockchain
- Increased efficiency and speed: Avoiding double every step by the trustless state makes it faster
- Reduced cost: By standard infrastructure, it costs less scaling one tool that works. Using the decentralized blockchain, you pay a small fee for an well improved service vs an on premise that you need to secure. The blockchain gives a reduced need of ressources so impact on smaller cost for the smart contract by example.
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Transparency: Due to the nature of the blockchain being public, anyone can see the transaction.
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Security: The bitcoin network is effectively a distributed ledger. Many parties keep book which greatly enhances security.
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Improved traceability: all transactions can be tracked through through the blockchain which improves record-keeping.
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Increased efficiency and speed: The lack of a third-party and the use of the internet increases speed and efficiency.
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Reduced cost: The lack of third parties which usually taking their cuts reduces the costs.
1.All documentation is shared by all permissioned participants and can only be changed via consensus.This makes all blockchain data more accurate consistent and transparent
2. As a decentralised network that relies on consensus instead of a single server it can prevent fraud and unauthorised activity
3.Helps to verify Authenticity and Fraud.
4.Gets rid of the need for time consuming paper processes by using a single digital ledger. Making clearing and settlement quicker and more efficient
5.Third Parties and middlemen are reduced leading to lower costs which will benefit business
Individual blocks contain only the new data (transactions), what links them together is the reference to the previous block 
Transparency: A transaction maybe verified as correct since it has already been audited when it was being entered into the blockchain. A blockchain is transparent, because all nodes have all the transactions stored on them from the first transaction.
Security: The fact that once a transaction is accepted as true on the network it can not be edited or deleted. Altering a transaction record would require that every transaction before it would need to be altered before that transaction is altered. By default, once entered into the blockchain no transaction can ever be changed or deleted. So this would make it very hard for a transaction to be edited.
Improved traceability: Since transactions are available for anyone to see, a transaction may be traced back to its origin.
Increased efficiency and speed: Since transactions are automatically verified when entering the blockchain they will not need to be verified again, this will save time and money.
Reduced cost: Since third parties are not performing any duty in the value chain, companies employing blockchain tech. will save a lot of money.
Benefits of blockchain in:
Transparency: any party involved can have fully access to all transaction of the network
Security: any transaction in the blockchain is validated by the all network and therefore gives optimum security and transparency.
Improved traceability: since any transaction is impermanent traceability of any transaction is optimum when accessing the network.
Increased efficiency and speed: since the network is accessible at any time by any party involved speed of action and trust is optimum therefore work flows increased.
Reduced cost: as we trust all the data from the blockchain we will less need documentation, third parties and middlemen for guarantees.
Thanks for replying and correcting. I have been learning about that some time ago so it is possible i got it wrong - there sure is a lot to learn still. Do you maybe have a reference where this info could be found?
And a question arouse with this, if this is not the case, why does the difficulty of calculating the blockchain (BTC in this case) gets harder by time?
P.S.: are you from Slovenia?
Do you mean the linking of blocks? You will learn about it here on the academy There are blockchain visualizations online, there is one in discussion, but donāt find the link atm, but a quick google search give me this one that you can give it a go: https://blockchaindemo.io/
It doesnāt get harder by the time, the difficulty adjust dynamically according to the number of hash power in the network.
It does so by utilizing the property of hash functions that give a seemingly random fingerprint of the hashed input data which is the block header, that also contains the hash of the previous block thus keeping the blocks in a chain 
since hash is just a number it can be compared to a given target and if the value is below it the block gets accepted, if not the nonce (a number used by miners) and tried again until they find the correct hash
Ja itak! 
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All transactions are identified the person only with a random set of letters and numbers.
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All transactions are secure through mining and the variety of ledgers in the network.
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All transactions are visible on a public ledger
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the transactionās rarely are not confirmed and the transaction speed is quite fast.
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The fees are very small to transfer large amounts over the blockchain compared to a central method.
Benefits of Blockchain Technology
Transparency:
Through the use of blockchain technology, transactions are becoming more transparent. A blockchain is a type of distributed ledger in which all participants share the same information, a digital database (digital stone). All transactions that go into the database can only be added and cannot be removed or changed. Any update or change must be done through concensus, in which everyone must agree. So, in order to make the smallest change to a transaction record, it would require changing all recorded entry and complete agreement through entire network.
Security:
Blockchain is more secure than other record keeping systems, because transactions must be agreed upon through consensus first. Once approved, the transaction is then encrypted and added or rather linked to the previous transaction. This new information or record is then shared and stored across a network of computers on the blockchain to secure and make it difficult for hackers to access or compromise the data.
Improve traceability:
When dealing with products that go through supply chain, itās very difficult to know where an item originated. With blockchain, exchanges of goods are recorded and you have a trail which can be verified. That shows exactly where an item came from and all associated stops from point to point. This removes the need for trust and allows for real time auditing to help prevent fraud.
Increased efficiency and speed:
Older, traditional processes require a lot of paper handling and use up a lot of time. These processes are also easily affected by human error and can require a 3rd party to mediate. Transactions can be completed faster and more efficiently by automating and streamlining the process with blockchain. Since everyone has access to the same information and record keeping is done through a single digital ledger.
Reduced costs:
In all industries, the biggest priority is in reducing costs. A reduction is costs equates to bigger profits. Blockchain eliminates the need for extra third parties or middlemen to make guarantees or be involved because it removes the need for trust in your trading partner. All that is required is to trust in the data and the protocol because everyone will have access with permission to a single immutable ledger.
- TRANSPARENCY
Transparency is an inherent characteristic of a blockchain technology. Blockchainās distributed ledger gives access to all network participants to the āsame dataā stored across a network of computers. Alteration on even just a single transaction would mean changing of all subsequent transactions and would require participation of everyone in the network hence it is impossible.
- SECURITY.
Blockchain is way more secure than any other existing network because āall transactionsā in the network must be agreed and approved upon before recording. Once approved itās encrypted and linked to the previous transaction. Additionally, this transaction is stored in all computers in the network not just in a single server. And makes it very difficult for hackers to compromise.
- IMPROVED TRACEABILITY
Because of blockchainās inherent transparency, this also improved its traceability. So with blockchain you can accurately trace an item back to its origin even including all the stops it made.
- INCREASED EFFICIENCY AND SPEED
Through blockchainās streamlining and automation, transactions are completed faster and more efficient. Record keeping is digital and shared (accessible) hence no need for reconciliation. Since transactions (the same info) are accessible by everyone the need for intermediary is eliminated.
- REDUCED COST
Because of above mentioned benefits of blockchain, third party can now be eliminated to reduce cost.
Beneficial consequences of blockchain use:
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transparent because anyone accesses the public data historic.
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secure because each and every transaction must be approved by network, agreed, encrypted, and immutably linked. They remain stored on chain which is a distributed ledger. No cut off of data on chain possible, no manipulation, either lost, nor human error, nor hidden tricks nor traps. I must say it: I have no clue how to be an efficient hacker on blockchain and if even any possible threat could even be realistically imagined. From the current ignorant level of mine: blockchain seems perfectly done.
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traceability is improved first because of networkās cold calm in front of complexity of the work, in more and more interconnection with the seemingly chaotic supply chain, honesty to authentic stored assets in data history on chain are automatically trail-audited to go back to their own real origin, at will.
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like every one accesses same info which are stored in a single digital ledger filled thank mathematically automated approval of network, speed and efficiency are increased ā¦ are they even instant?
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Cost of several kind are reduced: no paper forests needed to data guarantee because everyone access to the public last version of all completed trades. No or less hiring of middlemen, less conflicts, no errors on chain, instead of doubting on strangers, losing time and energies researching, being fooled, restoring wrong decision, anyone can trust public and validated data on blockchain. And choose then a bit more wisely and even instantly if it suits oneās own industry/ business or not at all.
- By being transparent its a more trustworthy system
- I donāt think thereās a more secure system the blockchain
- Will reduce fraud
- Everything is recorded to one ledge that everyone has access to
- Everyone wants things to cost less