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Why is Blockchain a trusted approach?

Answer»

The blockchain is a decentralized and distributed DATABASE for unaltered records. Here are some of the reasons why it is trusted:

  • COMPATIBLE with almost all business applications as it is open-source.
  • Extra FOCUS on security as all transactions happen online.
  • Enhanced, traceability, transparency, efficiency, and speed.

Note: Due to its unprecedented standards of security, Microsoft has been working on a Blockchain project to create Digital IDs for more than 1 billion people who currently have no ID to prove their identity. Our Blockchain interview questions shall answer your queries REGARDING the security methods used by Blockchain.


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