IT & Software Exam > IT & Software Questions > Which benefits of a blockchain-enabled busine...
Start Learning for Free
Which benefits of a blockchain-enabled business network engender trust?
- a)Consensus, provenance, immutability, and finality
- b)Scalable, reliable, secure, maintainable
- c)Efficient, dynamic, cognitive and reliable
- d)Modern, ideally suitable to digital transformation, social enabled
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which benefits of a blockchain-enabled business network engender trust...
Benefits of a blockchain-enabled business network that engender trust:
Consensus, provenance, immutability, and finality are the benefits of a blockchain-enabled business network that engender trust. Let's break down each of these benefits:
1. Consensus: Consensus is achieved through the use of distributed ledger technology that allows all parties to agree on the same version of the truth. This is achieved through a consensus algorithm that is used to validate transactions and ensure that they are legitimate. This creates a high level of trust because all parties are able to see the same information and agree on its accuracy.
2. Provenance: Provenance refers to the ability to track the ownership and location of assets throughout their lifecycle. This is achieved through the use of a blockchain, which allows for the creation of a permanent and transparent record of all transactions. This creates trust because all parties can see the entire history of an asset, from its creation to its current state.
3. Immutability: Immutability refers to the inability to change data once it has been recorded on the blockchain. This is achieved through the use of cryptographic algorithms that ensure that the data is secure and cannot be tampered with. This creates trust because all parties can be confident that the data they are seeing is accurate and has not been altered.
4. Finality: Finality refers to the ability to settle transactions in real-time. This is achieved through the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This creates trust because all parties can be confident that the terms of the agreement will be met.
Conclusion:
In conclusion, the benefits of a blockchain-enabled business network that engender trust are consensus, provenance, immutability, and finality. These benefits create a high level of trust because all parties can be confident that the data they are seeing is accurate and has not been tampered with. This creates a more efficient and effective business network that is capable of handling complex transactions in real-time.
Consensus, provenance, immutability, and finality are the benefits of a blockchain-enabled business network that engender trust. Let's break down each of these benefits:
1. Consensus: Consensus is achieved through the use of distributed ledger technology that allows all parties to agree on the same version of the truth. This is achieved through a consensus algorithm that is used to validate transactions and ensure that they are legitimate. This creates a high level of trust because all parties are able to see the same information and agree on its accuracy.
2. Provenance: Provenance refers to the ability to track the ownership and location of assets throughout their lifecycle. This is achieved through the use of a blockchain, which allows for the creation of a permanent and transparent record of all transactions. This creates trust because all parties can see the entire history of an asset, from its creation to its current state.
3. Immutability: Immutability refers to the inability to change data once it has been recorded on the blockchain. This is achieved through the use of cryptographic algorithms that ensure that the data is secure and cannot be tampered with. This creates trust because all parties can be confident that the data they are seeing is accurate and has not been altered.
4. Finality: Finality refers to the ability to settle transactions in real-time. This is achieved through the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This creates trust because all parties can be confident that the terms of the agreement will be met.
Conclusion:
In conclusion, the benefits of a blockchain-enabled business network that engender trust are consensus, provenance, immutability, and finality. These benefits create a high level of trust because all parties can be confident that the data they are seeing is accurate and has not been tampered with. This creates a more efficient and effective business network that is capable of handling complex transactions in real-time.
Free Test
FREE
| Start Free Test |
Community Answer
Which benefits of a blockchain-enabled business network engender trust...
B
|
Explore Courses for IT & Software exam
|
|
Similar IT & Software Doubts
Top Courses for IT & SoftwareView all
Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer?
Question Description
Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? for IT & Software 2025 is part of IT & Software preparation. The Question and answers have been prepared according to the IT & Software exam syllabus. Information about Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for IT & Software 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer?.
Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? for IT & Software 2025 is part of IT & Software preparation. The Question and answers have been prepared according to the IT & Software exam syllabus. Information about Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for IT & Software 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for IT & Software.
Download more important topics, notes, lectures and mock test series for IT & Software Exam by signing up for free.
Here you can find the meaning of Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which benefits of a blockchain-enabled business network engender trust?a)Consensus, provenance, immutability, and finalityb)Scalable, reliable, secure, maintainablec)Efficient, dynamic, cognitive and reliabled)Modern, ideally suitable to digital transformation, social enabledCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice IT & Software tests.
|
|
Explore Courses for IT & Software exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup