Blockchain MCQ Questions Answers

What does a blockchain do?

A blockchain is a decentralized, distributed ledger that records transactions across multiple computers. It allows for secure and transparent recordkeeping without the need for a central authority. 

Numerous possible uses for this technology exist, including those in voting systems, supply chain management, and finance. Quizack is a terrific resource to use if you are interested in this subject and seeking the greatest exam or job interview preparation. The most significant Blockchain MCQs are provided here for your study and practice.

What is blockchain in simple words?

Blockchain is a secure, continuously updated, and verifiable digital ledger or record of transactions that is decentralized and maintained by a network of computers. Using cutting-edge encryption, each transaction is recorded in a block that is linked to earlier blocks. 

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What is an example of blockchain?

Using a distributed ledger for Bitcoin transactions is one application of blockchain technology. Without the requirement for a central authority, peer-to-peer digital money transfers are possible with this decentralized system. On the blockchain, the transactions are validated and recorded, allowing for safe and open recordkeeping. 

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What is blockchain vs cryptocurrency?

Blockchain is a distributed, decentralized ledger that keeps track of transactions across several computers. It can be used for many things, such as keeping track of who owns something and for making smart contracts. Blockchain-based assets known as cryptocurrency may be traded and used as a kind of digital money. 

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Is blockchain the future?

Many experts believe so, as the technology offers a secure and decentralized way to record and transfer data. 

The blockchain is already causing upheaval in some businesses, like the banking industry. Supply chain management, electoral processes, and intellectual property protection are among further possible applications. 

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