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Q: What do you mean by blocks in the blockchain technology?
Blockchain consists of information of all the financial transactions. A block is nothing but just a list of records. When these lists are combined with each other, they are known as blockchain. For example- an organization has 100 ledger books the combination of which is known as Blockchain and a single ledger would be considered as a block.

Q: Why Blockchain is a trusted approach
Blockchain can be trusted due to so many reasons. The very first one is its compatibility with other business applications due to its open-source nature. Second is its security. As it was meant for online transactions, the developers have paid special attention in keeping up the pace when it comes to its security. It really doesn’t matter what type of business one owns, Blockchain can easily be considered.

Q: Is it possible in Blockchain to remove one or more block from the networks?
Yes, it can be done. There are times when only a specific portion of this online ledger is to be considered. With the help of default options and filters, this can easily be done without making a lot of efforts.

Q: What do you know about Blockchain?
Well, it’s a technology which was actually designed for the Bitcoin and later it got a lot of publicity due diverse array of benefits it brings when it comes to monitoring and recording all the financial transactions that are made on a network. It’s a trusted approach and there are a lot of organizations in the present scenario which are using it. As everything is secure, and because it’s an open source approach, it can easily be trusted for the long run.

Q: How does a block is recognized in the Blockchain approach?
Every block in this online ledger basically consists of a hash pointer which acts as a link to the block which is prior to it, transaction data and in fact a stamp of time.

Q: What exactly do you know about the security of a block?
Well, a block cannot be modified by all the users on a network. Therefore it offers an excellent level of security. In addition to this, every block is secured using cryptography that is another vote in this matter. Thus one needs not to worry about the safety as well as the security of data that is present in a block.

Q: Is there any network specific conditions for using Blockchain technology in an organization?
There is no specific condition on using it. However, the network must be a peer-to-peer network under the concerned protocols. It actually validates the new block simply and helps organizations to keep up the pace in this matter without investing in third-party applications.

Q: What is encryption? What is its role in Blockchain?
Data security always matters. Encryption is basically an approach that helps organizations to keep their data secure. In this technique, the data is encoded or changed up to some extent before it is sent out of a network by the sender. The only receiver can understand how to decode the same. In Blockchain, this approach is useful because it simply adds more to the overall security and authenticity of blocks and help to keep them secure.

Q: Is it possible to modify the data once it is written in a block?
No, it is not possible to do so. In case any modification is required, the organization simply has to erase the information from all other blocks too. It is because of no other reason than this, data must be given the extreme care of while using this approach.

Q: What type of records can be kept in Blockchain? Is there any restriction on same?
There is no restriction of keeping records of any type in the Blockchain approach. Presently, a lot of organizations all over the world are using this approach and the fact is records of medical transactions, events related to organizations, management activities, transaction processing, identity management, as well as documentation are the common type of records that can be kept on them. It must be noted that the record keeping is not just limited to these applications only.

Q: What is Double Spending?
It is one of the major problems that are associated with the digital cash. In fact, it’s a condition when one digital token is spent multiple times because the token generally consists of a digital file that can easily be cloned. It simply leads to inflation and organizations has to bear a huge loss. One of the primary aims of Blockchain technology is to eliminate this approach up to the possible extent.

Q: Explain the significance of blind signature and how it is useful?
It is actually a form of digital signature and in fact an important part of the cryptography in which all the information is made blind before it is actually considered or signed. This is verified approach and is generally considered in the privacy-related protocols where both the author and the signing parties are different. One of the most common examples is digital cash scheme.