Multiple Choice Questions on With reference to Blockchain consider the following statements It 39 s a form of centralised compute........... for UPSC Civil Services Examination (General Studies) Preparation

Back to Main Page

Multiple Choice Questions

With reference to Blockchain consider the following statements It 39 s a form of centralised compute...........

Economic Affairs Digital Economy
    Download Solution PDF

    With reference to Blockchain, consider the following statements

    1. It's a form of centralised computer network.
    2. Estonia is the world’s blockchain capital.
    3. Blockchain is used in cryptocurrency systems.

    Select the correct statement.

    1&2 only

    Incorrect Answer

    2&3 only

    Correct Answer

    1&3 only

    Incorrect Answer

    All of the above

    Incorrect Answer
    छोटे Courses बड़े Results
    Master Digital Economy
    Prepare through Micro-courses
    Try Now
    Explanation:

    Both statements 2&3 are correct.

    • A blockchain is a form of Decentralised distributed database or ledger that is shared among the nodes of a computer network.
    • The innovation of a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
    • Estonia, the world’s blockchain capital, is using blockchain infrastructure to verify and process all e-governance services offered to the general public.
    • Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. 

    Hence option 2nd is correct.

    Let's Discuss

    Master
    Digital Economy
    With abhipedia
    Micro Courses
    Try Now
    What our students have to say
    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free

    Search on abhipedia