Permanent agreement in a blockchain context refers to the irreversible and unchangeable record of transactions or data once they are validated and added to the distributed ledger. This means that once a state transition is finalized, it cannot be altered or undone by any participant or group. This property ensures the immutability and integrity of the blockchain’s historical record. It provides a high degree of trust and security for recorded information.
Context
The concept of permanent agreement is fundamental to the security and trustworthiness of blockchain technology, especially for applications requiring tamper-proof records like supply chain tracking or digital identity. While most public blockchains aim for this, discussions sometimes arise regarding the practical implications of immutability, particularly in cases of smart contract vulnerabilities or legal disputes. The strength of this agreement is a key factor in blockchain adoption.
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