Blockchain Blockchain MCQ Details
MCQ Practice Single Best Answer Topic: Blockchain

Q Consortium blockchain has a predefined set of nodes allowing the users to write the data.

Question ID
#6611
Subchapter
Blockchain
Action
Choose one option below

Choose Your Answer

Click an option to check whether your answer is correct.

  • A False
  • B True
Correct Answer: B

Explanation

True.

Consortium blockchain has a predefined set of nodes that are allowed to write data onto the blockchain. These nodes are typically controlled by a group of organizations that have agreed to participate in the consortium and have a stake in the network. Unlike public blockchains such as Bitcoin or Ethereum, where anyone can participate as a node and write data onto the blockchain, consortium blockchains are designed to be more private and controlled. This makes them suitable for enterprise applications where data privacy and confidentiality are paramount. However, consortium blockchains are still decentralized and allow for multiple parties to verify and validate transactions on the network.

Share This Question

Share this MCQ with your friends or study group.