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 moreWhat are NFTs in crypto?
A non-fungible token (NFT) is a unique digital asset that represents ownership of real-world items like art, video clips, music, and more . NFTs use the same blockchain technology that powers cryptocurrencies, but they’re not a currency.
Read moreWhat is a blockchain and how does it work?
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.”
Read moreWhat is blockchain used for?
By spreading its operations across a network of computers, blockchain allows Bitcoin and other cryptocurrencies to operate without the need for a central authority . This not only reduces risk but also eliminates many of the processing and transaction fees.
Read moreWhat is blockchain example?
Examples Of Blockchain Bitcoin and Ethereum are popular examples of blockchains. Everyone is allowed to connect to the blockchain and transact on them.
Read moreWhat is blockchain in simple words?
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system . A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
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