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ISQS 2340 Exam 2 Review TTU- Mitchell Questions and Answers 100% Solved
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ISQS 2340 Exam 2 Review TTU- Mitchell Questions andAnswers 100% Solved
what is blockchain technology? Correct Ans-A blockchain is a distributed ledger of
transactions
Blockchains lineage (where it came from/ first used)? Correct Ans-A block consists of
multiple timestamped transactions • Multiple blocks are joined together in a chain • Nodes
are connected devices that have a copy of the entire blockchain • The nodes are periodically
synchronized to ensure consensus
What are the main parts of blockchain technology? Correct Ans-1. Users initiate
transactions using their Digital Signatures. 2. Users Broadcast transactions to Nodes. 3. One or
more Nodes begin validating each transaction. 4.Nodes aggregate validated transactions into
Blocks. 5. Nodes broadcast blocks to each other. 6. Consensus protocol used. 7. Block
reflecting "true state" is chained to prior Block.
, ISQS 2340 Exam 2 Review TTU- Mitchell Questions and
Answers 100% Solved
Implications of blockchain buyers, sellers, and the middleman? Correct Ans-The blockchain
has the potential to reinvent any transaction that now requires going through a middleman,
including finance, banking, contacts, and retail.
Blockchain applications Correct Ans-• Cryptocurrencies, such as Bitcoin, Ethereum,
Litecoin, etc. • Digital identity • Any application where a secure, immutable record must be
shared between multiple parties • ensuring product authenticity • recording real estate
transactions • secure medical records
Various uses of blockchain technology discussed in the prep materials? Correct Ans-
finance (bitcoin), banking, contracts (law), retail, voting, music and other arts, trusted concert
tickets, protect sensitive info,
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