Question: What is the primary purpose of using a consensus algorithm in a blockchain network?
Answer:
The primary purpose of a consensus algorithm in a blockchain network is to verify and validate transactions, ensuring agreement among participants on the state of the blockchain.
MCQ: What is the primary purpose of using a consensus algorithm in a blockchain network?
Explanation:
The primary purpose of a consensus algorithm in a blockchain network is to verify and validate transactions, ensuring agreement among participants on the state of the blockchain.
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Related Questions
- 1. How does blockchain enhance the integrity of stored data in a decentralized network?
- 2. What is the role of a public key in blockchain transactions?
- 3. How does blockchain contribute to transparency in transactions?
- 4. What is the purpose of a smart contract in blockchain technology?
- 5. How does blockchain technology enhance the security of financial transactions?
- 6. What role does a private key play in blockchain security?
- 7. How does blockchain contribute to the prevention of double-spending in digital currencies?
- 8. What is the role of a Merkle tree in blockchain data structure?
- 9. How does blockchain enhance the traceability of supply chain transactions?
- 10. What consensus algorithm is commonly used in public blockchain networks like Bitcoin?
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