018_Blockchain Technology - CompTIA Security+ SY0-701 - 1.4

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What is blockchain technology commonly described as?

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A distributed ledger

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What is the primary function of a distributed ledger in blockchain?

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To track and record transactions

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How does blockchain ensure that all participants maintain an updated copy of the ledger?

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By automatically distributing changes to all participants

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What are some common use cases of blockchain technology?

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Payment processing, digital identification, and supply chain monitoring

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How is blockchain used in payment processing?

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It records and verifies transactions without a central authority.

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In what ways can blockchain help with digital identification?

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By securing identity verification through cryptographic records

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Why is blockchain beneficial for supply chain monitoring?

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It allows real-time tracking of goods with tamper-proof records.

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How does blockchain improve security and transparency in digital voting?

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By creating a permanent, tamper-proof voting record

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What are the main steps involved in a blockchain transaction?

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Initiating a transaction, broadcasting it, adding it to a block, and securing it with a hash

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Why is transaction information shared with all participants instead of a single entity?

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To ensure decentralization and transparency