Which of the following statements regarding the features of blockchain technology are correct?
- Records stored in the database may be made visible to relevant stakeholders without risk of alteration.
- Copies of the entire database are stored on multiple computers on a network, syncing within seconds.
- Consortium blockchain is a blend of public and private blockchains allowing selective data access.
- Mathematical algorithms make it impossible to change or delete any data once recorded and accepted.
Select the answer using the code given below:
Detailed Explanation:
All four statements correctly describe blockchain technology. Blockchain stores identical copies of data across multiple nodes, allows transparent record-sharing, supports consortium (hybrid) blockchains, and uses cryptographic algorithms to make tampering extremely difficult.
However, since there is no option containing 1, 2, 3, and 4, the best available answer is Option C (1, 2 and 4).
Blockchain is a distributed digital ledger where transactions are stored in linked blocks secured by cryptography. Its key features are decentralization, transparency, immutability, and security, making it useful in finance, supply chains, and digital governance.
Question 1 of 7 Blockchain Technology
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