With reference to "Blockchain Technology", consider the following statements: 1. It is a public ledger that…
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?
1 only
1 and 2 only
2 only
1 and 3 only
Solution
Blockchain is a distributed public ledger; no single user controls it (1 correct). Blockchain data is not limited to cryptocurrency — it has applications in supply chain, health, governance, etc. (2 wrong). Applications using blockchain are permissionless (3 correct). Answer: (d) 1 and 3 only.