Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 12 14 points) Which of the following best defines the consensus component of blockchain technology? This component of blockchain technology means that every transaction

image text in transcribed
Question 12 14 points) Which of the following best defines the "consensus component of blockchain technology? This component of blockchain technology means that every transaction submitted to the network is validated and packaged into blocks of data. Before the block can be added to the network, agreement within the network must be reached that the block is valid This component of blockchain technology means that data are distributed and synchronized among all participates on the network. This component of blockchain technology means that once a transaction is confirmed and added to the blockchain, the data is tamper-proof and cannot be altered This component of blockchain technology means the data is defined within the network based on a standard set of rules. Newt Page 12 of 72

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud Auditing And Forensic Accounting

Authors: Tommie W Singleton, Aaron J Singleton, G Jack Bologna, Robert J Lindquist

4th Edition

047056413X, 9780470564134

More Books

Students also viewed these Accounting questions