What is an advantage of using blockchain technology?
Choose one of the following.
A) Data and transactions are decentralized and distributed among participants in the network.
B) The system creates a hash or digital fingerprint for each participant in the blockchain.
C) All transactions must be approved by a single and impartial third party or authority.
D) None of the participants are notified when changes are made to data stored in previous blocks.
Answer (2)
An advantage of blockchain technology is that it decentralizes and distributes data among network participants, enhancing security and transparency. This prevents a single point of failure, reducing the risk of hacking and fraud. The decentralized nature allows for better trust among users, as data cannot be easily altered once recorded.
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The correct answer is A) Data and transactions are decentralized and distributed among participants in the network. ;
