Banks and accounting systems use ledgers to trace and timestamp transactions. The distinction is that the blockchain is totally decentralized associated with an open source. This suggests that folks don’t have to believe or trust the financial institution to keep track of the transactions. The peer-to-peer blockchain technology will keep track of all the transactions while not the worry to erase or lost them.
Furthermore, the blockchain, thanks to its open-source nature, is a lot of versatile and programmable than central banking ledgers. If programmers want new practicality on the blockchain, they’ll merely initiate on high of already existing code through accord. This can be tough for central banks thanks to all of their rules and central points of failure.
Blockchain Interview Questions and Answers for Freshers – Q. 11,12,13,16,17,18,19
Blockchain Interview Questions and Answers for Experienced – Q. 14,15,20