It is a peer-to-peer interaction and records everything on a digital decentralized ledger called the blockchain. True or False?
Understand the Problem
The question is asking whether the statement about blockchain being a peer-to-peer interaction that records transactions on a decentralized digital ledger is true or false. This involves understanding the fundamental concepts of blockchain technology.
Answer
True
The final answer is True
Answer for screen readers
The final answer is True
More Information
Blockchain technology operates as a decentralized ledger, recording transactions through peer-to-peer networks, ensuring transparency and security.
Tips
Often, students may overlook the 'peer-to-peer' aspect or confuse blockchain with traditional, centralized databases.
Sources
- Blockchain: Decentralized Ledgers Enabling Peer to Peer Payments - sgrlaw.com - sgrlaw.com
- Blockchain technology - Simplilearn - simplilearn.com
- Blockchain Facts: What Is It, How It Works, and How It Can Be Used - Investopedia - investopedia.com
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