Homework on Security & Immutability - Answers
- How does a decentralized network increase security?
The decentralized network relies on consensus to provide
the truth. It is secure because the nodes are tasked with
confirming transactions and updating the blockchain as well as
identifying and not processing those transactions that are invalid.
This provides the overall security of the global network.
- Why is it dangerous to trust a central authority for security?
The central authority can be corrupted by the “what’s in it for me” philosophy.
The network can be hacked, information stolen allowing for the
perpetuation of fraudulent transactions.