In a nutshell, a multi party system is a system where two or more parties cooperate in order to achieve a common goal. This is usually done through some form of agreement or contract. In the context of blockchain, a multi party system can be used in order to create a distributed ledger. This means that each party involved in the system will have a copy of the ledger and can update it as needed. This can be useful for things like tracking financial transactions or other data.
Other related questions:
Q: What is Blockchain multiparty system?
A: A blockchain multiparty system is a distributed system that allows multiple parties to share data and transact with each other without the need for a central authority. The system is designed to provide transparency and security, while also ensuring that all parties have access to the same information.
Q: What is a benefit of a multi-party system in Blockchain?
A: Multi-party systems in blockchain can provide greater security and transparency compared to single-party systems. They can also help to ensure that all parties involved in a transaction have the same information, which can help to prevent disputes.
Q: What is Accenture’s role in multi-party system Blockchain?
A: Accenture is a professional services company that provides strategy, consulting, digital, technology and operations services. The company has been involved in developing and testing blockchain technology since 2016. In 2018, Accenture launched a platform that allows multiple parties to build and deploy blockchain applications.
Q: What are multi-party Systems in technology?
A: Multi-party systems are systems in which multiple parties (i.e. groups of users) can access and use a shared resource or service. Examples of multi-party systems include social networking platforms, online marketplaces, and collaborative working platforms.