[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.
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2
Q

key principles of blockchain technology?

A

transparency, decentralisation and accountability.

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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.

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