Which of the following is a characteristic of blockchain technology?Question 12Answera.Centralized control over the networkb.Unlimited scalabilityc.Lack of transparency in the transaction processd.Immutable ledger of transactions
Question
Which of the following is a characteristic of blockchain technology?Question 12Answera.Centralized control over the networkb.Unlimited scalabilityc.Lack of transparency in the transaction processd.Immutable ledger of transactions
Solution
The characteristic of blockchain technology from the options provided is:
d. Immutable ledger of transactions
Here's why:
a. Centralized control over the network - This is incorrect. One of the key features of blockchain technology is decentralization, meaning no single entity has control over the entire network.
b. Unlimited scalability - This is also incorrect. While blockchain has significant potential, it currently faces issues with scalability. As the number of transactions increases, the speed of the network can decrease.
c. Lack of transparency in the transaction process - This is incorrect. In fact, blockchain is known for its transparency. All transactions are visible to all network participants, although the identity of the participants can remain anonymous.
d. Immutable ledger of transactions - This is correct. Once a transaction is recorded on a blockchain, it cannot be changed or deleted. This immutability is a key characteristic of blockchain technology.
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