Which of the following Statement is true about Blockchain? (Solved)

Which of the following statement is true about blockchain?

Which of the following statement is true about blockchain? See Expert Verified answer below.

1)A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server.

2) A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks.

3) A blockchain has been described as a value-exchange protocol.

4) All of the above statements are true

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Correct answer is : 4) All of the above statements are true.

Q2. Which of the following statements is TRUE about blockchains?

Which of the following statements is TRUE about blockchains?

A> It is easier to detect changes to items that are included on a blockchain than in traditional ERP systems.

B. Blockchains are faster for recording transactions than traditional ERP systems.

C. Once created there is no way to change a blockchain transaction.

D. All of these are false.

E. All of these are true

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Correct answer is :E. All of these are true.

Explanation

A blockchain is a decentralised, distributed, and frequently public digital ledger comprised of data known as blocks. A blockchain database is self-managed using a peer-to-peer network and a distributed timestamping server. Also a blockchain has been described as a protocol for exchanging value. So all three options are correct for the above question i.e., which of the following statements is true about blockchain?

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