Blockchain MCQ with Answers A blockchain is a centralized digital ledger consisting of records called blocks . B. A blockchain is a decentralized, distributed, digital ledger consisting of records called blocks.
Read moreWhy is it called 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.
Read moreIs Bitcoin and blockchain the same?
Blockchain is the technology that enables the existence of cryptocurrency (among other things). Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented .
Read moreCan blockchain exist without Bitcoin?
Some experts believe public blockchain needs cryptocurrency to work while private blockchains don’t . Public blockchains are distributed and decentralised. Each new block requires validation by all the computers connected to the network or nodes before it is added to the blockchain.
Read moreWhat is difference between blockchain and cryptocurrency?
A blockchain does not have any monetary value. Blockchain technology has uses beyond cryptocurrencies . Blockchain can be used for recording transactions in banking, healthcare, supply chain, and retail. Cryptocurrency is digital money, which can be used for buying goods and services and for investment.
Read moreWhat are the 4 different types of Blockchain technology?
There are four types of blockchain structures:
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