Which of the following statements regarding the features of blockchain technology are correct ? 1. Records stored in the database may be made visible to relevant stakeholders without risk of alteration. 2. Copies of the entire database are stored on multiple computers on a network, syncing within seconds. 3. Consortium blockchain is a blend of public and private blockchains allowing selective data access. 4. Mathematical algorithms make it impossible to change or delete any data once recorded and accepted. Select the answer using the code given below :
A
1 and 3
B
2 and 4 only
C
1, 2 and 4
Correct answer
D
1 and 4 only
Explanation
Blockchain records can be shared with relevant stakeholders while being protected from tampering (1). Every node holds a synchronised copy of the ledger (2). Cryptographic hashing and consensus make recorded, accepted data practically impossible to change or delete (4). Statement 3 is excluded: a consortium blockchain is a permissioned network run jointly by a group of organisations; a blend of public and private chains is usually called a hybrid blockchain.
IT & ComputersBlockchain technologyBlockchainDistributed ledgerConsortium blockchainImmutabilityHybrid blockchain