[Jan] Blockchain Flashcards
1
Q
What is it?
A
Blockchain technology is a structure that stores transactional records (known as the block) of the public in several databases (known as the chain) in a network connectedthrough peer-to-peer nodes. This storage is referred to as a digital ledger.
- Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
- The blockchain method implements an online public bulletin board that allows for a linear ordering of data to which a user can only further append data.
2
Q
key principles of blockchain technology?
A
transparency, decentralisation and accountability.
3
Q
Why blockchain is being considered by GOI to be used for distant voting?What are risks?
A
The cryptographic features enable this system to guarantee data security and verifiability, but its dependence upon a network and devices could allow vulnerabilities that are present in any Internet-based system to creep into the system.