Blockchain

Question 1

What is a Blockchain?

Answer 1

• A shared immutable ledger for recording transactions, tracking assets, and building trust

Question 2

Smart Contracts

Answer 2

• Self executing contracts where the terms of agreement or conditions are written directly into lines of code
• Automatically execute actions when certain conditions are met

Question 3

The decentralized and transparent nature of the blockchain ensures that once a smart contract is deployed…

Answer 3

• It cannot be altered, making the agreement tamper-proof and trustworthy

Question 4

Permissioned Blockchain

Answer 4

• Used for business transactions and it promotes new levels of trust and transparency using this immutable public ledgers