Blockchain

Other key features of blockchain outlined.

Blockchain is the technology that is giving us the ability to launch the Gold and Silver Standard. In it’s simplicity, imagine a new kind of database - one that cannot be deleted, edited or changed in any way. With this kind of transparency it becomes possible to manage many different kinds of transaction types. Future analysts discuss the potential of using blockchain to measure and manage energy, agriculture, internet use and of course money.

If a blockchain database cannot be changed, it cannot be corrupted. Hence it is the perfect tool in launching a completely transparent currency.

Other key features of block chain technology are outline here - but essentially align with the key feature of a non-editable transaction based data chain.

Wiki

A blockchain originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.