What is “Block Chain” in the field of information technology?
Protection of details of electronic transaction.
Understanding Blockchain in Information Technology
The question asks about the meaning of "Blockchain" in the field of Information Technology. Blockchain is a revolutionary technology known for its secure and transparent way of recording transactions.
At its core, a blockchain is a type of distributed ledger technology (DLT) that stores transaction records, known as 'blocks', in a chronological chain. Each new block added to the chain is cryptographically linked to the previous one, creating a secure and immutable record.
Analyzing the Options for Blockchain Definition
Let's look at the given options and see which one best describes blockchain in Information Technology:
- Option 1: Motherboard protection device. This is incorrect. A motherboard is a component of a computer, and blockchain is a software/data structure technology, not a hardware protection device.
- Option 2: Protection of details of electronic transaction. This option highlights a key function and benefit of blockchain technology, particularly its use in securing and verifying electronic transactions. By recording transactions in a tamper-evident, distributed ledger, blockchain protects the integrity and details of these electronic transactions from unauthorized changes.
- Option 3: Taking random snaps of electronic transactions. This is incorrect. Blockchain involves structured recording and verification of transactions, not random snapshots.
- Option 4: Blocking continuous electronic transactions. This is incorrect. Blockchain technology is designed to *enable* secure and continuous electronic transactions, not block them.
Why Protection of Details of Electronic Transaction is Relevant
While a complete definition of blockchain involves concepts like distributed ledgers, consensus mechanisms, and cryptography, the provided correct option captures one of its primary outcomes: ensuring the security and immutability of transaction data. When electronic transactions are recorded on a blockchain, the cryptographic linking of blocks makes it extremely difficult and computationally expensive to alter past transaction details without being detected. This provides a strong form of protection for the transaction history and details.
Therefore, among the given choices, "Protection of details of electronic transaction" is the most accurate description of a key aspect and application of blockchain in Information Technology.
Revision Table: Key Concepts of Blockchain
| Concept | Description |
|---|---|
| Block | A record containing transaction data, a timestamp, and a cryptographic hash of the previous block. |
| Chain | The sequence of blocks linked together chronologically using cryptographic hashes. |
| Distributed Ledger | A database shared across multiple computers (nodes) instead of being stored in a single central location. |
| Cryptography | Used to secure the links between blocks and verify transactions, ensuring data integrity. |
| Immutability | Once data is recorded on the blockchain, it is very difficult or impossible to alter or delete it. |
Additional Information on Blockchain Technology
Blockchain technology has applications beyond just electronic transactions, such as supply chain management, digital identity, voting systems, and more. Its decentralized nature means there is no single point of failure, and transparency allows participants to view transaction history (depending on the type of blockchain). The security comes from cryptography and the distributed nature of the ledger, where multiple copies exist and must agree on the state of the chain.
The concept of blockchain was first popularized with the creation of Bitcoin in 2008, but the technology itself is independent of any specific cryptocurrency. Its potential to provide secure, transparent, and tamper-proof record-keeping is why it is considered a significant innovation in Information Technology.
Important Questions from Information Technology
Match the items of List II with List I and select the correct code:
List-I
List-II
(a) H.M.L. classification (i) To determine the criticality of an item and its effect on production and other services. It is specially used for classification of spare parts. (b) V.E.D. classification (ii) Based on the pattern of issues from stores and is useful in controlling obsolescence and helpful in identifying active items and surplus items. (c) SDE classification (iii) The classification unit value is the criterion and not the annual consumption. (d) FSN classification (iv) Based on problems faced in procurements, availability of items and useful in the context of scarcity of supply.
Codes:The following statements are related to technology transfer between countries. Choose the correct code for the statements being correct or incorrect.
Statement I : Import of techniques and machinery is a mode of technology transfer.
Statement II : Technology transferred through government for common welfare is considered as free market transfer and is not subject to patent laws.
Match List I with List II:
List I (COP 27)
List II (COP 27 Action Plan)
A.
Mitigation
I.
Promote climate know-how solutions.
B.
Capitalize
II.
Empowering all stakeholders to engage in climate action.
C.
Technology
III.
Phase down unabated coal power.
D.
Capacity Building
IV.
Creation of “loss and damage fund”
Choose the correct answer from the options given below:Which of the following is a type of information system?
Who invented the concept of 'Deep Web'?
