Blockchain is the most important advancement of data safety with the technology of cryptographical hashing and distributed storage. Every block is permanently connected with the former one. To change any record, one has to change all the subsequent blocks in the entire network at once which is computationally impossible. This ensures integrity and good tamper resistance in data.
Blockchain promotes the transparency of transactions given its shared, time-based records. Any valid transactions endure forever but become visible to concerned parties. This gives an instant and permanent audit track record in which any authorized user can have a read-only record of transactions and movement of assets so that there are no opaque resulting records.
Blockchain is decentralized and demands a consensus enabling its security and visibility. Distributed nodes agree on the transactions through reaching consensus (such as using the Proof-of-Stake or Proof-of-Work protocol). This eliminates the dependence on any central authority and eliminates single points of failure as well as fraud.
The smart contracts have automated processes that ensure transparency is practiced in the execution. These are self-executing contracts coded on the blockchain which take actions automatically once certain pre-set conditions are attained. It decreases manual error and the development of bias, and the conditions and result of the contract are documented irreversibly in the ledger to be verified.
Conclusion:
The direct benefits of blockchain innovations on security are the ability of data to be tamper-proof due to their cryptographic immutability and use of decentralised consensus. They guarantee transparency through a shared, unchangeable ledger which gives a verifiable audit trail of all transactions. The transparent execution is furthered by smart contracts, which also automate and enforces it. These characteristics generate the secure and auditable systems on their own.
