Which term describes a public ledger where cryptocurrency transactions are recorded chronologically?

Which term describes a public ledger where cryptocurrency transactions are recorded chronologically?

• A. A private database.
• B. A decentralized app.
• C. Blockchain.
• D. A digital wallet.

Answer: (C)

The concept being tested is what term describes a public ledger where cryptocurrency transactions are recorded chronologically. The best answer is blockchain because it’s a linked sequence of blocks, each containing a batch of transactions with a timestamp, added in strict time order to form a continuous, chronological record. This ledger is distributed across many participants, not controlled by a single entity, which makes it public and verifiable. The blocks are secured with cryptographic hashes that connect them, creating an immutable chain where altering past entries is extremely difficult. This differs from a private database, which is controlled by a single organization; a decentralized app, which is software that runs on a blockchain network rather than the ledger itself; and a digital wallet, which stores keys and provides access to funds rather than recording all transactions in a public ledger.

The concept being tested is what term describes a public ledger where cryptocurrency transactions are recorded chronologically. The best answer is blockchain because it’s a linked sequence of blocks, each containing a batch of transactions with a timestamp, added in strict time order to form a continuous, chronological record. This ledger is distributed across many participants, not controlled by a single entity, which makes it public and verifiable. The blocks are secured with cryptographic hashes that connect them, creating an immutable chain where altering past entries is extremely difficult.

This differs from a private database, which is controlled by a single organization; a decentralized app, which is software that runs on a blockchain network rather than the ledger itself; and a digital wallet, which stores keys and provides access to funds rather than recording all transactions in a public ledger.