Civil Services Examination · Question 40
With reference to "Blockchain Technology", consider the following statements: 1. It is a public ledger that everyone can inspect, but which no single user controls. 2. The structure and design of blockchain is such that all the data in it are about cryptocurrency only. 3. Applications that depend on basic features of blockchain can be developed without anybody's permission. Which of the statements given above is/are correct?
Show answer & explanation
Answer: (D) 1 and 3 only
Explanation
Blockchain is a decentralised public ledger and open/permissionless for building applications; it is used far beyond cryptocurrency (supply chains, land records, etc.).