Question: What is the purpose of a consensus algorithm in a permissioned blockchain network?
Answer:
In a permissioned blockchain network, the purpose of a consensus algorithm is to verify and validate transactions among trusted participants.
MCQ: What is the purpose of a consensus algorithm in a permissioned blockchain network?
Explanation:
In a permissioned blockchain network, the purpose of a consensus algorithm is to verify and validate transactions among trusted participants.
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Related Questions
- 1. How does blockchain technology contribute to the concept of tokenization?
- 2. What is the purpose of a digital signature in a blockchain transaction?
- 3. How does blockchain enhance the security of identity verification processes?
- 4. What is the role of a consensus algorithm in the context of blockchain scalability?
- 5. How does blockchain technology contribute to the concept of decentralized finance (DeFi)?
- 6. What is the purpose of a timestamp in blockchain transactions?
- 7. How does blockchain contribute to the immutability of data records?
- 8. What role does a nonce play in the context of blockchain mining?
- 9. How does blockchain contribute to the prevention of double-spending in digital currencies?
- 10. How does blockchain contribute to the prevention of data tampering in digital records?
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