Question: How does blockchain contribute to the prevention of double-spending in digital currencies?
Answer:
Blockchain prevents double-spending in digital currencies by using consensus mechanisms, ensuring that transactions are verified and agreed upon by the network.
MCQ: How does blockchain contribute to the prevention of double-spending in digital currencies?
Explanation:
Blockchain prevents double-spending in digital currencies by using consensus mechanisms, ensuring that transactions are verified and agreed upon by the network.
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Related Questions
- 1. How does blockchain contribute to the prevention of data tampering in digital records?
- 2. What is the role of a block header in a blockchain structure?
- 3. How does blockchain address the challenge of data privacy in transactions?
- 4. What is the purpose of a zero-knowledge proof in blockchain transactions?
- 5. How does blockchain contribute to the concept of token economies and incentivizing participants?
- 6. What is the role of a decentralized autonomous organization (DAO) in blockchain governance?
- 7. How does blockchain contribute to the reduction of fraud in digital identity systems?
- 8. What is the purpose of a consensus algorithm in the context of blockchain sustainability?
- 9. How does blockchain technology contribute to the concept of verifiable credentials in identity systems?
- 10. What is the role of a hash pointer in linking blocks in a blockchain?
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