How can a blockchain be used to manage sharing

Asked by admin @ 11/08/2021 in English viewed by 252 People

How can a blockchain be used to manage sharing of personalrecords?

Answered by admin @ 11/08/2021

Answer:

A blockchain is a shared database that records transactions between two parties in an immutable ledger.[1] Blockchains document and confirm pseudonymous ownership of all existing coins within a cryptocurrency ecosystem at any given time through cryptography.[2] After a transaction is validated and cryptographically verified by other participants or nodes in the network, it is made into a "block" on the blockchain.[1] A block contains information about the time the transaction occurred, previous transactions, and details about the transaction.[1] Once recorded as a block, transactions are ordered chronologically and cannot be altered.[1] This technology rose to popularity after the creation of Bitcoin, the first application of blockchain technology, which has since catalyzed other cryptocurrencies and applications.[3]

Due to its nature of decentralization, transactions and data are not verified and owned by one single entity as they are in typical systems. Rather, the validity of transactions are confirmed by any node or computer that has access to the network.[4] Blockchain technology secures and authenticates transactions and data through cryptography.[5] With the rise and widespread adoption of technology, data breaches have become frequent.[6] User information and data are often stored, mishandled, and misused, causing a threat to personal privacy.[5] Currently[when?], many[who?] are pushing for the widespread adoption of blockchain technology for its ability to increase user privacy, data protection, and data ownership.[5]

How can a blockchain be used to manage sharing

Similar Questions

Which of the following is used to manage database

Premium on issue of shares can be used for

Break even analysis is useful because it allows managers to

The term management accounting was first used in

What is an advantage of using blockchain technology brainly

Cost volume profit analysis is used primarily by management

What task can t be performed by using task manager

Time management is primarily the act of using time

How does blockchain technology help organizations when sharing data

Three concepts used to explain the foundation of blockchain

What is scientific management how might today's organizations use it

Overcoming fixed mindset: a step-by-step guide to cultivating a growth mindset

Which of the following would best complete this list?

What had the king decided to do before he saw the spider

Describe the karez in your own words

Most viewed questions in English

There are ways to spice up one's work amcat

Suxushi pvt company is looking for a laptop passage

Code a contains a set of eight lines

Collins english grammar and composition class 6 answer key

New grammar with a smile class 8 solutions pdf

The orchestra has one whistler who plays instruments well

New learner's english grammar and composition class 8 solutions pdf

Class 8 english my big brother questions and answers

Oxford new pathways english book for class 7 solutions

An it company has decided to recruit software developers

Oxford new learner's grammar and composition class 6 solutions

New grammar plus class 6 solutions by ratna sagar

On thursday night a crowd gathered at union square passage

Reeta and rishika are of the same height

The picture of an ant when enlarged 200 times