(Verified Answer) Which statement describes data-sharing in a blockchain?

Which statement describes data-sharing in a blockchain?

1. Organizations share different versions of the same data on their local servers.
2. Organizations share separate versions of data.
3. Organizations share a single version of data.
4. Organizations share only data related to money and finance.

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The expert verified correct answer is option 4. Organizations share only data related to money and finance.

According to the declaration, data-sharing in a blockchain is defined as associations sharing only data related to money and finance.

Blockchain is a method of storing data in such a way that it is difficult or impossible to edit, hack, or trick the system. 

Blockchain is a digital log of transactions that is duplicated and distributed across the blockchain’s entire network of computer systems. Data sharing via blockchain can give organizations with a secure means to store and distribute data. In blockchain, data travels across a peer-to-peer network protected by an immutable cryptographic signature.

A distributed ledger that may be shared among networked devices is introduced by blockchain. Without the use of middlemen, users on the network can securely exchange files and assets, such as bitcoins, among themselves.

Hence the correct answer to the question: “Which statement describes data-sharing in a blockchain?” is —Organizations share only data related to money and finance.

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