Which of the following statements about blockchain is not true?
A) A blockchain system is composed of a distributed network of computers.
B) A blockchain system is inherently centralized.
C) A blockchain system is a transaction processing system.
D) Cryptocurrencies are based on blockchain technology.

Question

Quizplus · Accepted Answer

A blockchain system is not inherently centralized. In fact, it is designed to be decentralized, as it relies on a distributed network of computers (or nodes) to maintain and validate the ledger of transactions. The absence of a central authority is one of the key features of blockchain technology.

Which of the Following Statements About Blockchain Is Not True