Blockchain technology has several benefits that make it a revolutionary innovation. The correct answer is option D, which includes all three benefits mentioned in the question. Let's discuss each of these benefits in detail:

1. Records and validates each transaction:

- Blockchain technology is a decentralized and distributed ledger system that records every transaction made across multiple computers or nodes. This ledger is constantly updated and synchronized, ensuring that each transaction is recorded accurately and transparently.
- The validation process in blockchain involves consensus mechanisms, such as proof-of-work or proof-of-stake, which require participants to verify and approve transactions. This eliminates the need for a central authority or intermediary to authenticate transactions, reducing costs and increasing efficiency.

2. No need for third-party or central authority for peer-to-peer transactions:

- Traditional financial systems often rely on intermediaries such as banks or payment processors to facilitate transactions between parties. These intermediaries can introduce delays, fees, and privacy concerns. With blockchain, direct peer-to-peer transactions can be conducted without the need for intermediaries.
- Blockchain technology enables individuals or organizations to transact directly with each other, eliminating the need for a trusted third party. This not only streamlines the process but also enhances security and privacy by reducing the risk of fraud or manipulation by intermediaries.

3. Immutable transactions and prevention of hacking:

- Blockchain technology ensures the immutability of transactions by using cryptographic hashing and linking blocks of data. Once a transaction is recorded on the blockchain, it becomes virtually impossible to alter or delete it without the consensus of the network participants.
- This immutability makes blockchain highly secure against hacking or tampering. Any attempt to modify a transaction would require altering all subsequent blocks and gaining control of the majority of the network's computing power, which is extremely difficult and resource-intensive.
- The decentralized nature of blockchain, where multiple copies of the ledger exist on different nodes, further enhances security and resilience. Even if one node is compromised, the integrity of the overall network remains intact.

In conclusion, blockchain technology offers several benefits, including the recording and validation of transactions, elimination of intermediaries for peer-to-peer transactions, and the immutability of transactions, making it highly secure against hacking. These advantages have the potential to disrupt various industries and transform the way transactions are conducted and verified.