UPSC Prelims 2020 · GS Paper 1 · Q20

Science & Technology

Medium · Blockchain Technology, Basic Features

Consider the following statements regarding blockchain technology:

1. It is a public ledger of transactions that is not owned or controlled by any single user.

2. Data recorded on a blockchain must always relate to cryptocurrency transactions.

3. Permissionless applications can be built on top of a blockchain's basic features without seeking anyone's approval.

Which of the statements given above are correct?