APPLICATION LAYER
PEER TO PEER PARADIGM
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Centralized / structured
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De-centralized / structured
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Centralized / unstructured
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De-centralized / unstructured
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Detailed explanation-1: -In Bitcoin’s case, blockchain is decentralized so that no single person or group has control-instead, all users collectively retain control. Decentralized blockchains are immutable, which means that the data entered is irreversible. For Bitcoin, transactions are permanently recorded and viewable to anyone.
Detailed explanation-2: -They are just like databases but are structurally and functionally different. While databases store data using ‘table’ data structures, blockchains store data in blocks.
Detailed explanation-3: -A blockchain can be either centralized or decentralized. It is important, however, that decentralized not be confused with distributed. While a blockchain is inherently distributed (meaning that many parties hold copies of the ledger), it is not inherently decentralized.