Jewish law demanded 'an eye for an eye and a tooth for a tooth' (Exodus 21:24).  Personal injury to other people must be paid for personally - the punishment would be the same as the injury caused (Leviticus 24:17-22).  One person would pay for each person who suffered.  

But the punishment taken by Jesus was different.  By Himself, He took responsibility for all the sins of everybody, and Father God was satisfied.  His death was a sacrifice which covered the innumerable sins of all people for all time (1 Peter 2:24).  The gift of God was disproportionately greater than our sin.  As Psalm 103:8-12 says: “The Lord is compassionate and gracious, slow to anger, abounding in love.  He will not always accuse, nor will he harbour his anger for ever; he does not treat us as our sins deserve or repay us according to our iniquities.  For as high as the heavens are above the earth, so great is his love for those who fear him; as far as the east is from the west, so far has he removed our transgressions from us.”

More than that, the righteousness of Christ has not only been given to one person, however holy they might be.  Christ's righteousness is given freely and equally to all those who believe in Him.  Not only does that gift cancel the threat of eternal judgement, but it also brings 'an abundant provision of grace'!  As Romans 8:32 says, "He who did not spare his own Son, but gave him up for us all – how will he not also, along with him, graciously give us all things?"

Without Christ, people might be well described as the 'living dead'.  Death stalks them to inevitable defeat as a ruthless ruler terrorises those he defeats.  But in Christ, those who were once dead in sin become alive (Ephesians 2:4-7) and reign with Him.  That should be the nature of Christian living: unafraid of death, confident in life, satisfied by God's provision, with a clean conscience and gratefully covered by a righteousness which is given and not earned.  So, if you are a believer that is your status in Christ - live that life with joy and thanksgiving.  As you do, others, who are terrorised by the fear of death (Hebrews 2:14-15), will notice and some will want to know how your Jesus can be their Jesus too.