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?
Explanation
Statement 1 is correct: At its architectural core, a public blockchain operates as a decentralized, distributed ledger maintained across a peer-to-peer network. Every participant can view and verify transaction history, while consensus protocols ensure that no single centralized entity exercises unilateral control.
Statement 2 is incorrect: Blockchain technology is a versatile foundational protocol that extends far beyond digital currencies. It is widely implemented for smart contracts, supply chain logistics, land titling, electronic health records, educational credential verification, and digital voting systems.
Statement 3 is correct: Public permissionless blockchains (such as Bitcoin or Ethereum) are open-source protocols. Any developer worldwide can create, deploy, and interact with decentralized applications (DApps) and protocols without requiring approval from a central authority or gatekeeper.
Therefore, statements 1 and 3 are correct — Option D.