What are the key differences between blockchain and centralized systems?
An example of an AI chatbot conversation about blockchain technology versus centralized systems.
What are the key differences between blockchain and centralized systems?
Blockchain is decentralized, meaning no single entity controls it, while centralized systems are managed by a single authority.
Can you explain the advantages of using blockchain over centralized systems?
Sure! Blockchain offers enhanced security, transparency, and resistance to censorship compared to centralized systems.
What are some real-world applications of blockchain technology?
Real-world applications include cryptocurrencies, supply chain management, and secure voting systems.
Are there any disadvantages to using blockchain?
Yes, some disadvantages include scalability issues, energy consumption, and regulatory challenges.
How does blockchain ensure data integrity?
Blockchain uses cryptographic hashing and consensus mechanisms to ensure that data is secure and tamper-proof.
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