Question
Science & TechnologyComputing, AI and Digital TechnologiesBlockchain and Distributed Ledger TechnologiesMedium (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Fact recall
- Tags:
- non-fungible tokens · Blockchain and Distributed Ledger Technologies
- Related topics:
- CBDC, Crypto-assets and Digital Currency
Classification and difficulty are editorial labels. Explanations are awaiting review.
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With reference to Non-Fungible Tokens (NFTs), consider the following statements: 1. They enable the digital representation of physical assets. 2. They are unique cryptographic tokens that exist on a blockchain. 3. They can be traded or exchanged at equivalency and therefore can be used as medium of commercial transactions. Which of the statements given above are correct?
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Question 69 · Blockchain and Distributed Ledger Technologies · Science & Technology · UPSC Prelims 2022 (GS)