Anonymity is about hiding the “who”, while privacy is about hiding the “what”.Anonymity means the ability for parties to exchange data without disclosing any off-chain identity information or other transactions they have done.Example is Bitcoin, which is partially anonymous, but not private at all.

Immutability can be defined as the ability of a blockchain ledger to remain unchanged, for a blockchain to remain unaltered and indelible. More succinctly, data in the blockchain cannot be altered. Each block of information, such as facts or transaction details, proceed using a cryptographic principle or a hash value.

Bitcoin works with an unprecedented level of transparency that most people are not used to dealing with. All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network.Anyone can see the balance and all transactions of any address.Users must be careful not to disclose their addresses.

In a collaborative economy, that means trusting enterprises not based on reputation or brand but based on the immutability of blockchain. The cost of trust is high, and we incur risk each time we cannot completely trust our business network.

Immutability can be defined as the ability of a blockchain ledger to remain unchanged, for a blockchain to remain unaltered and indelible. More succinctly, data in the blockchain cannot be altered. Each block of information, such as facts or transaction details, proceed using a cryptographic principle or a hash value.

It's based on principles of cryptography, decentralization, and consensus, which ensure trust in transactions.Blockchain technology enables decentralization. In most blockchains or distributed ledger technologies (DLT), the data is structured into blocks, and each block contains a transaction or bundle of transactions.

The crux of the matter is that Bitcoin blockchain is public and distributed to nodes. It is verifiable which means that anyone can check all the transactions. ... With all these concerns, Bitcoin blockchain and other cryptocurrencies continue to grow at a breakneck pace paving the way for a new financial revolution.

Soaring value of bitcoin and frenzy over cryptocurrency, the blockchain technology that sparked the bitcoin revolution has received heightened attention from both practitioners and academics. Blockchain technology often causes controversies surrounding its application potential and business ramifications.