Q40 · UPSC Prelims 2020 · Set A · Science and Technology

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With reference to "Blockchain Technology" consider the following statements:1.It is a public ledger that everyone can inspect, but which no single user controls2.The structure and design of blockchain is such that all the data in it are about crypto currency only.3.Applications that depend on basic features of blockchain can be developed without anybody's permission.Which of the statements given above is/are correct?

A 1 only
B 1 and 2 only
C 2 only
D 1 and 3 only

Correct answer: (d) 1 and 3 only

Explanation

  1. A

    1 only

    1 only. Permissionless apps are also true of public chains.

  2. B

    1 and 2 only

    1 and 2 only. Data on a chain is not ‘crypto only’.

  3. C

    2 only

    2 only. The false limb.

  4. D

    1 and 3 only

    1 and 3 only. A public ledger no single user controls; anyone can build on the open rules. Crypto is one application, not the only payload.

Summary. Official key is (d) 1 and 3 only. A public blockchain is a shared ledger without a single controller, and permissionless development is part of that design. It is not limited to cryptocurrency data.

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