One thing public blockchain is good at is maintaining nonrepudiation of transactions in a secure and immutable ledger. This can be a double-edged sword because the ledger cannot guarantee accuracy and precision of attributes in transactions but can guarantee that a transaction was indeed recorded. Hence, the responsibility of adding accurate and precise attributes in transactions added to the blockchain rests outside either by using oracles or through other trusted mechanisms. For example, blockchain by itself cannot verify that a real-estate property being traded has 1.0 acre of land because it must rely on a third party to verify the acreage. However, blockchain can verify that the trade between two parties ...
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