A blockchain performs various functions which are supported by various features. These functions include but are not limited to transfer of value, managing assets and agreements. All of the blockchain tiers described in the previous section perform these functions with the help of features offered by blockchain, but with some exceptions. For example, smart contracts are not supported by all blockchain platforms, such as Bitcoin. Another example is that not all blockchain platforms produce cryptocurrency or tokens, such as Hyperledger Fabric, and MultiChain.
The features of a blockchain are described here:
- Distributed consensus: Distributed consensus is the primary underpinning of a blockchain. This mechanism allows ...
