Blockchain Technology Bundled Exams /Package deal

What is blockchain technology? - Correct Answer a record of transactions, like a traditional ledger or a distributed ledger of transactions. The cryptographic database is maintained by a network of computers, each of which stores a copy of the most up-to-date version. It provides a simple, secure ...

What is Blockchain? - Correct Answer -Transformative technology -Blockchain originated as the technology underlying the digital currency Bitcoin. -Trust is at the heart of commerce. Blockchain delivers the potential for a powerful new form of transactional trust. -Blockchain could impact many f...

Explain how t Explain how the blockchain works. - Correct Answer 1. Imagine 10 people with a file folder and a piece of paper. 2. Whenever someone does something, they announce it to all 10 people. 3. Everyone makes a note the announcement on their page until the page is filled. Then everyone s...

What is the advantage of centralization? - Correct Answer Efficiency What is the disadvantage of decentralisation? - Correct Answer Inefficiency Who proposed bitcoin? - Correct Answer Satoshi Nakamoto What does bitcoin use for the identity? - Correct Answer Public Key infrastructure...

Who created the first crypto? - Correct Answer Satoshi Nakamoto, the creator of bitcoin. What is blockchain? - Correct Answer A blockchain is a digital ledger (a shared database) that stores data in blocks linked together via cryptography. Many different types of information can be stored in ...

Where are the transactions recorded in a blockchain? * On a SQL database * On a distributed immutable ledger * On a distributed opaque immutable ledger * On a centralized immutable ledger - Correct Answer On a distributed immutable ledger If the following are the six steps in the process of...

What does the "finality" quality of service provide to blockchain? a. Agreement that a transaction occurred b. History of transactions c. An append-only data structure d. Transactions cannot be backed out - Correct Answer d. Transactions cannot be backed out Which of the following fac...

Learning Objective 1: - Correct Answer Describe what problems blockchains solve Learning Objective 2: - Correct Answer Define what is meant by a distributed ledger Learning Objective 3: - Correct Answer Explain how blockchains avoid alteration Learning Objective 4: - Correct Answer ...

What is a digital asset? - Correct Answer digital item that you can own but will never exist outside of the internet What is the purpose of blockchain technology? - Correct Answer Record, store and track digital information and transactions. What is one characteristic of blockchain technol...