Question

How is Blockchain different from traditional database models?

a) Blockchain increases innovation ; however it decreases productivity and quality
b) Blockchain can lead to increased transparency and trust in data, ultimately driving more innovation, improved productivity and quality
c) Blockchain prohibits transparency by redefining the fundamental nature of business ecosystems and business flows
d) Blockchain provides multiple versions of the data that can be kept by individual entities

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Answer 1

Answer:

d) Blockchain provides multiple versions of the data that can be kept by individual entities

Explanation:

• The main difference between blockchain and databases is centralization.
• All records protected in the database are centralized, but each participant in the blockchain has a saved copy of all records and all changes, so every user has a source of data so every user can check it.
• A blockchain is a distributed database or ledger shared between nodes in a computer network. As a database,  blockchain stores information electronically in digital format. Blockchain is best known for its essential role in cryptocurrency systems like Bitcoin for maintaining secure and decentralized records of transactions. Blockchain innovation is to ensure the fidelity and security of data records and create trust without the need for a trusted third party.

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