Knowee
Questions
Features
Study Tools

The main advantage(s) of DLT includes:Group of answer choicesDirect regulatory oversightEncryption for securityMultiple copies of the ledger protect against operational riskDisintermediation

Question

The main advantage(s) of DLT includes:Group of answer choicesDirect regulatory oversightEncryption for securityMultiple copies of the ledger protect against operational riskDisintermediation

🧐 Not the exact question you are looking for?Go ask a question

Solution

The main advantages of DLT (Distributed Ledger Technology) include:

  1. Encryption for security.
  2. Multiple copies of the ledger protect against operational risk.
  3. Disintermediation.

Here's the step-by-step explanation:

  1. Encryption for Security: DLT uses advanced cryptographic techniques to ensure the security of the transactions. This makes it extremely difficult for unauthorized individuals to manipulate the data, providing a high level of security.

  2. Multiple Copies of the Ledger: In a DLT system, the ledger is distributed across multiple nodes or participants in the network. Each participant has a copy of the entire ledger. This redundancy protects against operational risk because even if one node fails or is compromised, the data is still safe and intact in the other nodes.

  3. Disintermediation: DLT allows for peer-to-peer transactions without the need for a trusted third party or intermediary, such as a bank in financial transactions. This can make transactions faster, cheaper, and more efficient.

Please note that direct regulatory oversight is not typically considered an advantage of DLT. In fact, one of the challenges of DLT, especially in the context of cryptocurrencies, is the lack of regulatory oversight, which can lead to potential misuse.

This problem has been solved

Similar Questions

Which of the following measures is NOT a best practice for a successful DLP implementation?Group of answer choicesIdentify the main objective of DLPImplement DLP with a maximum baseIdentify the roles and responsibilities of individualsIdentify sensitive data for protection

JPMorgan is considering using blockchain for its settlement system for trading among its own client base. Which of the following is most appropriate?AIt is more likely to use permissionless DLTsBIt is more likely to use permissioned DLTsCIt is equally likely to use permissionless and permissioned DLTsDIt is not likely to use DLTs

DLT Immutability means that:Group of answer choicesthe ledger can never be changedthe ledger can be changedthe ledger cannot be unilaterally changedthe ledger cannot be multilaterally changed

A private (or restricted) DLT network:Group of answer choiceshas a system administrator.can provide higher levels of security than public/unrestricted networks.only permits authorised participants to access the DLT network.Is not open to the general public

Which of the following measures is the best practice for a successful DLP implementation?Group of answer choicesImplement DLP with a maximum baseIdentify sensitive data for protectionNever eliminate false positivesNever evaluate the DLP vendors

1/1

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.