Blockchain Technology

What is the primary function of blockchain technology?

• To create centralized databases.

• To keep track of individual transactions as a distributed ledger.

• To manage physical assets exclusively.

• To facilitate private, unshared record-keeping.

Who is responsible for maintaining the ledger in a blockchain network?

• Only a central authority.

• A single designated administrator.

• Everyone participating in the blockchain network.

• Only the creator of the blockchain.

What happens to changes recorded in a blockchain ledger?

• They are stored on a single server.

• They are distributed to all participants who maintain a copy of the ledger.

• They are deleted after a short period.

• They are only accessible to the person who made the change.

Which of the following is NOT mentioned as a practical application of blockchain technology?

• Payment processing

• Digital identification

• Supply chain monitoring

• Centralized data storage

What occurs if a block in the blockchain is altered?

• The altered block is automatically corrected by the network.

• Its hash and all following hashes are automatically recalculated, and the altered chain is rejected by the network.

• The entire blockchain is reset to its original state.

• Only the altered transaction within the block is removed.