Blockchain is a distributed database that allows for secure, transparent and tamper-proof record-keeping.
False. While blockchain is often described as a distributed database, it is important to note that this is not an accurate characterization. A distributed database is a database that is spread across multiple locations, often with different levels of access and control. Blockchain, on the other hand, is a decentralized database that is not controlled by any single entity. This decentralized nature is what allows for the security and transparency of blockchain.
Blockchain is often used in conjunction with cryptocurrencies, but the two are not the same.
True. Blockchain is the underlying technology that powers cryptocurrencies like Bitcoin and Ethereum. While blockchain can be used for other purposes, it is most commonly associated with cryptocurrencies.
Blockchain is nothackable.
False. While blockchain is often touted as being secure and tamper-proof, it is important to note that no system is completely secure. There have been instances of hacking in the cryptocurrency world, and it is possible that blockchain could be hacked in the future. However, the decentralized nature of blockchain makes it more secure than centralized systems.
Other related questions:
Q: Which of the following is true about blockchain?
A: Blockchain is a distributed database that allows for secure, transparent and tamper-proof record-keeping.
Blockchain is well suited for applications that require a high degree of security and transparency, such as financial transactions or voting systems.
Blockchain is not well suited for applications that require high speed or scalability, such as real-time stock trading.
Q: Which of the following is the function of blockchain technology?
A: Blockchain technology allows for secure, transparent and tamper-proof transactions.
Q: Which of the following are the types of blockchain?
A: 1. Public blockchains
2. Private blockchains
3. Consortium blockchains
Q: In which of the following situation would blockchain add value?
A: 1. When there is a need to track and verify digital asset ownership.
2. When there is a need to securely and transparently transfer digital assets.
3. When there is a need to create and track tamper-proof digital records.
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