ITPEC FE Subject A October 2024 Question 53
ITPEC FE Subject A October 2024 — Question 53 of 60
Blockchain is a distributed ledger shared across a peer-to-peer (P2P) network — every node holds a full copy, with no central authority controlling the data.
Why not others:
- (a) A centralized ledger on a server — the opposite of blockchain; describes a traditional database
- (b) A client-server network — centralized architecture, contradicts blockchain's decentralized nature
- (d) A type of cryptocurrency — cryptocurrency (e.g., Bitcoin) is an application of blockchain, not the technology itself
Key rule: Blockchain = decentralized + distributed ledger + P2P. Cryptocurrency is just one use case.
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