Question

Unlike other large accessible databases that are controlled by corporate entities, such as Netflix or Spotify, public blockchains are hosted on a public ledger, which can be considered a huge database, that stores the data for a blockchain and essentially runs as a peer-to-peer network. This means they have no:

Multiple choice question.
o controlling central authority
o standard protocol
o blocks
o consensus mechanism

Answer 1

Public blockchains are hosted on a public ledger and run as a peer-to-peer network with no controlling central authority. They utilize a consensus mechanism to ensure security and have a standard protocol for interoperability.

Step-by-step explanation:

Public blockchains, unlike other large accessible databases controlled by corporate entities, are hosted on a public ledger and run as a peer-to-peer network. One notable characteristic of public blockchains is that they have no controlling central authority. This means that the database is not controlled by a single entity like Netflix or Spotify.

Moreover, public blockchains also have a consensus mechanism, which is a set of rules that all participants in the network must follow. It ensures that all transactions on the blockchain are agreed upon by the majority of the network participants. This consensus mechanism provides security and prevents fraudulent activity.

In addition to that, public blockchains also have a standard protocol, which defines the rules and specifications that all participants must adhere to. This allows for interoperability among different implementations of the blockchain technology.