Page 4 - Success Plus English Language and Literature Class 10
P. 4
Factual Passages
8 marks each
Solved Exercises
1. blockchain technology
1. Blockchain technology was developed chain would involve taking control of each
to create a system for online financial and every computer of the blockchain
transactions that would be transparent network, so that all existing copies of the
and incorruptible. This means that blockchain are changed at the same time.
simultaneous access to every single This makes it difficult for hackers to target
transaction is granted to everyone on the one block, which is possible in a centralised
network, thereby minimising the chance for system where all the data is stored in one
someone to commit fraud. In other words, place.
the main objective behind blockchain 5. The applications of blockchain technology
technology is complete security. are extensive. It can be used to keep track
2. A blockchain is a way of maintaining of electronic health records, land records,
a shared and secure set of records digital certificates, and even to track air
of transactions on the Internet. The pollution. Other industries that can benefit
technology consists of creating blocks from blockchain technology are travel,
of data, with each block containing banking, trade finance, healthcare and
transaction information. Each transaction insurance.
is added to the existing ones, forming an 6. Despite the many benefits of blockchains,
ever-expanding chain.
there are some disadvantages as well. By its
3. A blockchain exists in a decentralised very nature, the technology is very complex
network, which means that the data is and only people who understand coding
maintained simultaneously on many can operate them. The transactions are
computers. When a transaction takes place also much slower compared to centralised
on the network, it shows up on all systems databases. They are also quite expensive
on the network. More importantly, each and consume a lot of power. Like any
transaction has to be validated by every system, they are prone to human errors – if
single person on the network for it to data is entered incorrectly and validated
be completed. Thus, once a transaction without proper checks, such data cannot be
is added to a blockchain, it is virtually rectified at a later stage. People also have
impossible to modify or delete it. concerns about the privacy of their data.
4. The network is considered to be secure
because changing even one link in the
A Answer the following questions based on the passage you have just read.
(6 × 1 = 6 marks)
1. The transactions on blockchain technology ensure complete .
2. In blockchain technology, blocks of data store .
2
