Blockchain removes fraudulent transactions primarily through completely decentralized network connectivity via the Internet, rather than through digital signatures alone, which only establish the identity and authenticity of the parties.
Source quote, verbatim
While blockchain's use of digital signatures helps establish the identity and authenticity of the parties involved in the transaction, it is the completely decentralized network connectivity via the Internet that allows the most protection against fraud.
From
Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017), IV. Blockchain Technology, p. 10 https://ssrn.com/abstract=2959730 · source PDF
Cite as
Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730
Holds when
decentralized peer to peer networks with Internet connectivity
restateskaal:claim:2939127-016 It is the completely decentralized network connectivity of the blockchain via the Internet, more than the use ...
extended_bykaal:claim:3373393-022 It is decentralized network connectivity via the Internet, rather than blockchain's use of digital signatures,...
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