What is a blockchain Mcq answer? (2023)

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What is a blockchain answer?

A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network.”

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What is Bitcoin Mcq answer?

The correct answer is A digital cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

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What are the different types of blockchain Mcq?

There are four main types of blockchain networks:

Public blockchain network. Private blockchain network. Consortium blockchain network. Hybrid blockchain network.

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What is blockchain simply?

A blockchain is a digital ledger or database where encrypted blocks of digital asset data are stored and chained together, forming a chronological single-source-of-truth for the data. Digital assets are distributed, not copied or transferred.

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What is blockchain example?

Blockchain technology enables a decentralized peer-to-peer network for organizations or apps like Airbnb and Uber. It allows people to pay for things like toll fees, parking, etc. Blockchain technology can be used as a secure platform for the healthcare industry for the purposes of storing sensitive patient data.

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What are the properties of blockchain Mcq?

The key features of blockchain are:
  • Distributed Database,
  • Decentralized Systems,
  • Distributed Ledger,
  • Safer and Secure Ecosystem.

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What is a miner blockchain Mcq?

What is a miner? A type of blockchain. An algorithm that predicts the next part of the chain. A person doing calculations to verify a transaction.

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Which statement is true about blockchain Mcq?

Answer: The answer is Blockchain enables users to verify that data tampering has not occurred. Explanation: Blockchain is a machine of recording facts in a manner that makes it difficult or not possible to change, hack, or cheat the system.

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What is hash Mcq?

Explanation: A hash table is used to implement associative arrays which has a key-value pair, so the has table maps keys to values. 2.

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What is block chain types?

There are two main types of blockchain nodes: Full nodes store a complete copy of the blockchain. Lightweight nodes only store the most recent blocks, and can request older blocks when users need them.

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What are the two Blockchains?

Ethereum and Bitcoin are both layer 1 blockchains because they are the underlying foundation that various layer 2 networks build on top of. Examples of layer 2 projects include "rollups" on Ethereum and the Lightning Network on top of Bitcoin.

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Why is blockchain used?

Blockchain helps in the verification and traceability of multistep transactions needing verification and traceability. It can provide secure transactions, reduce compliance costs, and speed up data transfer processing. Blockchain technology can help contract management and audit the origin of a product.

What is a blockchain Mcq answer? (2023)
Where is blockchain used?

Blockchain technology can be used to secure access to identifying information while improving access for those who need it in industries such as travel, healthcare, finance, and education.

What is block chain and its uses?

A blockchain is a decentralized, distributed, and often public, digital ledger consisting of records called blocks that are used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.

What are the 3 elements of a block in a block chain?

Key elements of a blockchain
  • Distributed ledger technology. All network participants have access to the distributed ledger and its immutable record of transactions. ...
  • Immutable records. No participant can change or tamper with a transaction after it's been recorded to the shared ledger. ...
  • Smart contracts.
23 Jun 2022

What is a blockchain Class 11?

Blockchain is a system that allows a group of connected computers to maintain a single updated and secure ledger which is updated only after all the nodes in the network authenticate the transaction.

What are the 3 most important components for a blockchain?

The important logical blockchain components are as follows, Node Application. Distributed ledger. Consensus algorithms.

Why is it called blockchain mining?

About Blockchain Mining

Blockchains are so-called because of their 'blocks' and 'chain' structure. The blocks are composed of numerous bitcoins which are individual units that store all the data code individually. The chain refers to the links from one neighbourhood block to another.

What is data mining is Mcq?

Explanation: data mining is a process of mining of knowledge from data or extracting information from a large collection of data. It also involves several other processes like data cleaning, data transformation, and data integration. 14.

What is a mine Short answer?

A mine is a place where deep holes and tunnels are dug under the ground in order to obtain a mineral such as coal, diamonds, or gold.

What is blockchain conclusion?

The Bitcoin is the first successful implementation of blockchain. Today, the world has found applications of blockchain technology in several industries, where the trust without the involvement of a centralized authority is desired. So welcome to the world of Blockchain.

Which statement is true about blockchain Brainly?

The correct statement about blockchain is :

Blockchain enables users to verify that data tampering has not occurred.

What is block code Mcq?

Explanation: The block code is referred to as an (n,k) code, and the rate of the code is defined as R=n/k. It is equal to the rate of information divided by the raw channel rate.

What is a stack Mcq?

Stack is a linear data structure that allows to insert or delete elements from one end i.e. from the top of the stack. It follows a particular order in which elements are inserted or deleted i.e. LIFO (Last in first out).

What is a kernel Mcq?

Explanation: Kernel is the first program that is loaded in memory when OS is loading as well as it remains in memory till OS is running. Kernel is the core part of the OS which is responsible for managing resources, allowing multiple processes to use the resources and provide services to various processes.

What is the best blockchain?

Top 7 Blockchain Platforms
  • Coinbase Institutional.
  • Ethereum.
  • Kaleido.
  • Azure Blockchain Workbench.
  • IBM Blockchain Platform.
  • Corda.
  • Hyperledger.
13 Nov 2022

What are the main block chains?

12 Top Blockchain Platforms
  • Avalanche.
  • Cardano.
  • Chainalysis KYT.
  • Ethereum.
  • Hyperledger Fabric.
  • Hyperledger Sawtooth.
  • IBM Blockchain.
  • Polkadot.
25 Aug 2022

What is the best example of blockchain?

Bitcoin and Ethereum are popular examples of blockchains. Everyone is allowed to connect to the blockchain and transact on them.

Is blockchain a network?

A blockchain network is a technical infrastructure that allows applications to access ledger and smart contract services. Smart contracts are primarily used to originate transactions, which are then transmitted to each peer node in the network and recorded immutably on their copy of the ledger.

Where is the blockchain network?

Blockchain is decentralized and hence there is no central place for it to be stored. That's why it is stored in computers or systems all across the network. These systems or computers are known as nodes. Each of the nodes has one copy of the blockchain or in other words, the transactions that are done on the network.

How many Blockchains are there?

There are four main types of blockchain networks: public blockchains, private blockchains, consortium blockchains and hybrid blockchains. Each one of these platforms has its benefits, drawbacks and ideal uses.

What is the most common blockchain?

Bitcoin accounts for nearly 40% of the entire cryptocurrency world's value, so it is reasonable to say that the Bitcoin blockchain is the most popular.

What blockchain is not?

Stores assets- Blockchain doesn't store assets!!! It stores the records of the flow of assets across various parties. For example- As a use case for land registry; blockchain holds the record of transaction of land (instead of actual land LOL). Similarly, it doesn't store files and physical information.

Why is blockchain secure?

Blockchain technology produces a structure of data with inherent security qualities. It's based on principles of cryptography, decentralization and consensus, which ensure trust in transactions.

What is blockchain in real life?

Blockchain has so many applications in every sector you can imagine such as healthcare, finance, government, identity, etc. And that's not including its most popular application which is Bitcoin. However, Blockchain is much more than just Bitcoin.

Who uses blockchain?

Investors of Blockchain.com include Lightspeed Venture Partners, Baillie Gifford & Co., Kingsway Capital Partners, Kyle Bass, VY Capital and 20 more.

Who invented the blockchain?

Blockchain has the potential to grow to be a bedrock of the worldwide record-keeping systems, but was launched just 10 years ago. It was created by the unknown persons behind the online cash currency bitcoin, under the pseudonym of Satoshi Nakamoto.

What is the value of blockchain?

Blockchain increases trust, security, transparency, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies.

How do you make a blockchain?

If you decide that building a new blockchain is your next step, then here's what you need to do:
  1. Choose a consensus mechanism. A blockchain's operating protocol is also known as its consensus mechanism. ...
  2. Design your blockchain architecture. ...
  3. Audit your new blockchain and its code. ...
  4. Verify legal compliance.

Why is it called a blockchain?

Why is it Called “Blockchain”? Blockchain owes its name to how it works and the manner in which it stores data, namely that the information is packaged into blocks, which link to form a chain with other blocks of similar information.

What blockchain is and how it works?

A blockchain is a digital ledger of transactions maintained by a network of computers in a way that makes it difficult to hack or alter. The technology offers a secure way for individuals to deal directly with each other, without an intermediary like a government, bank or other third party.

Why is there a blockchain?

The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is the foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed.

What is the main blockchain?

Some of the largest, most known public blockchains are the bitcoin blockchain and the Ethereum blockchain.

What are the top 3 Blockchains?

According to Menon, the top three blockchain frameworks for these use cases are R3 Corda, Hyperledger and Ethereum, with EOSIO and Quorum gaining ground.

What are the two types of blockchain?

There are primarily two types of blockchains; Private and Public blockchain. However, there are several variations too, like Consortium and Hybrid blockchains.

Is blockchain a type of database?

The ultimate goal of a blockchain is to store information, which makes it a database. Blockchains only differ from other database types by the way they store data. While blockchains can be considered a database, a database is typically not a blockchain. Databases generally don't use signed blocks to store the data.

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