Question: How does blockchain technology contribute to the concept of decentralized finance (DeFi)?
Answer:
Blockchain contributes to decentralized finance (DeFi) by distributing financial processes across a decentralized network, removing the need for traditional intermediaries.
MCQ: How does blockchain technology contribute to the concept of decentralized finance (DeFi)?
Explanation:
Blockchain contributes to decentralized finance (DeFi) by distributing financial processes across a decentralized network, removing the need for traditional intermediaries.
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Related Questions
- 1. What is the purpose of a timestamp in blockchain transactions?
- 2. How does blockchain contribute to the immutability of data records?
- 3. What role does a nonce play in the context of blockchain mining?
- 4. How does blockchain contribute to the prevention of double-spending in digital currencies?
- 5. How does blockchain contribute to the prevention of data tampering in digital records?
- 6. What is the role of a block header in a blockchain structure?
- 7. How does blockchain address the challenge of data privacy in transactions?
- 8. What is the purpose of a zero-knowledge proof in blockchain transactions?
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