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When a record is on a Blockchain, who can access it?
- a)Multiple people simultaneously.
- b)One person at a time.
- c)Only the people involved in the transaction
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
When a record is on a Blockchain, who can access it?a)Multiple people ...
Blockchain and Access to Records
Blockchain technology is a decentralized database that stores records of transactions in a secure and transparent manner. When a record is on a Blockchain, multiple people can access it simultaneously. Let us understand this in detail:
Decentralized Database
- A Blockchain is a decentralized database, which means that there is no central authority controlling the data.
- The data is stored on multiple computers or nodes, and each node has a copy of the entire database.
- Due to the decentralized nature of the Blockchain, anyone can access the records stored on it.
Secure and Transparent
- Blockchain technology ensures that the records stored on it are secure and transparent.
- Each record is encrypted and linked to the previous record, forming a chain of blocks, hence the name Blockchain.
- The records are also immutable, meaning that once a record is added to the Blockchain, it cannot be altered or deleted.
- This ensures that the records stored on the Blockchain are trustworthy and reliable.
Multiple People Simultaneously
- Since the Blockchain is a decentralized database, multiple people can access the records stored on it simultaneously.
- The records are available to anyone who has access to the Blockchain network.
- This means that anyone can verify the authenticity of a transaction by accessing the records stored on the Blockchain.
Conclusion
In conclusion, when a record is on a Blockchain, multiple people can access it simultaneously. This is because the Blockchain is a decentralized database that ensures the security and transparency of the records stored on it. Anyone who has access to the Blockchain network can access the records stored on it.
Blockchain technology is a decentralized database that stores records of transactions in a secure and transparent manner. When a record is on a Blockchain, multiple people can access it simultaneously. Let us understand this in detail:
Decentralized Database
- A Blockchain is a decentralized database, which means that there is no central authority controlling the data.
- The data is stored on multiple computers or nodes, and each node has a copy of the entire database.
- Due to the decentralized nature of the Blockchain, anyone can access the records stored on it.
Secure and Transparent
- Blockchain technology ensures that the records stored on it are secure and transparent.
- Each record is encrypted and linked to the previous record, forming a chain of blocks, hence the name Blockchain.
- The records are also immutable, meaning that once a record is added to the Blockchain, it cannot be altered or deleted.
- This ensures that the records stored on the Blockchain are trustworthy and reliable.
Multiple People Simultaneously
- Since the Blockchain is a decentralized database, multiple people can access the records stored on it simultaneously.
- The records are available to anyone who has access to the Blockchain network.
- This means that anyone can verify the authenticity of a transaction by accessing the records stored on the Blockchain.
Conclusion
In conclusion, when a record is on a Blockchain, multiple people can access it simultaneously. This is because the Blockchain is a decentralized database that ensures the security and transparency of the records stored on it. Anyone who has access to the Blockchain network can access the records stored on it.
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When a record is on a Blockchain, who can access it?a)Multiple people ...
Records of medical transactions
Identity management
Transaction processing
Business transactions,
Management activities
Documentation
Identity management
Transaction processing
Business transactions,
Management activities
Documentation
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When a record is on a Blockchain, who can access it?a)Multiple people simultaneously.b)One person at a time.c)Only the people involved in the transactionCorrect answer is option 'A'. Can you explain this answer?
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