Question
consider the following statements about Blockchain:
I. It's a form of centralized computer network. II. centralized is the world’s blockchain capital. III. Blockchain is used in cryptocurrency systems. Which of the statements given above is/are correct?Solution
A blockchain is a form of Decentralised distributed database or ledger that is shared among the nodes of a computer network. The innovation of a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party. Estonia, the world’s blockchain capital, is using blockchain infrastructure to verify and process all e-governance services offered to the general public. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions.
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