ITPEC FE Morning April 2020 Question 72
ITPEC FE Morning April 2020 — Question 72 of 80
Blockchain fundamentals — identify the core characteristic of blockchain technology.
Blockchain is a distributed ledger maintained across a peer-to-peer (P2P) network. Every node holds a copy of the entire chain, and new blocks are validated by consensus — no central authority is needed.
Why not others:
- (a) A centralized ledger is the opposite of blockchain's design — decentralization is its defining feature.
- (b) A client-server network relies on a central server, which blockchain explicitly eliminates.
- (d) Cryptocurrency (e.g., Bitcoin) is an application built on blockchain, not a characteristic of the technology itself.
Key rule: Blockchain = distributed ledger + P2P network + consensus mechanism. Don't confuse the technology with its most famous use case.
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