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Science & Technology
Emerging Technologies
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UPSC Prelims 2020 Paper-1 📅 04 Oct, 2020

With reference to "Blockchain Technology", consider the following statements:
1. It is a public ledger that everyone can inspect, but which no single user controls.
2. The structure and design of blockchain is such that all the data in it are about cryptocurrency only.
3. Applications that depend on basic features of blockchain can be developed without anybody's permission.
Which of the statements given above is/are correct?

A
1 only
B
1 and 2 only
C
2 only
D
1 and 3 only
Result Summary
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UPSC Prelims
2020 • 04 Oct, 2020 • Paper-1
With reference to "Blockchain Technology", consider the following statements:
1. It is a public ledger that everyone can inspect, but which no single user controls.
2. The structure and design of blockchain is such that all the data in it are about cryptocurrency only.
3. Applications that depend on basic features of blockchain can be developed without anybody's permission.
Which of the statements given above is/are correct?
Correct Answer
1 and 3 only
Decentralized Ledger: At its core, a blockchain is a distributed digital ledger. Because the database is spread across multiple nodes (P2P network), anyone can ......
Ref/Book : UPSC Prelims 2020
Ref. Subject Science & Technology
Chapter -
Ref. Topic Emerging Technologies
Pg. No -
💡 Analysis & Explanation
Decentralized Ledger ▼
At its core, a blockchain is a distributed digital ledger. Because the database is spread across multiple nodes (P2P network), anyone can inspect the transaction history, and no centralized single authority dictates control. Statement 1 is correct.
Beyond Cryptocurrency ▼
While Bitcoin popularized the technology, a blockchain can securely record virtually any type of digital data. Supply chain tracking, medical records, property titles, and smart contracts are prominent non-cryptocurrency applications. Thus, statement 2 is fundamentally incorrect.
Permissionless Innovation ▼
Public blockchains operate on open-source protocols. Developers have the freedom to build decentralized applications (DApps) on top of existing blockchains (like Ethereum) without requiring permission from a central authority or corporation. Statement 3 is correct.
Conclusion ▼
Only statements 1 and 3 are technically correct descriptions of blockchain properties.
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