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Categories: Blockchain BLOCKCHAIN

1. Blockchain is a peer-to-peer _____________ distributed ledger technology that makes the records of any digital asset transparent and unchangeable.

A) Decentralized

B) Demanding

C) Secure

D) Popular

Answer: A) Decentralized

2. Blockchain networks are much _____ and deal with no real single point of failure.

A) Simpler

B) Easier to scale

C) Convenient

D) Faster

Answer: B) Easier to scale

3. Bitcoin is a cryptocurrency, which is an application of Blockchain.

A) True

B) False

Answer: A) True

4. Blockchain can perform user transactions without involving any third-party intermediaries.

A) With the help of the third party

B) Without involving any third party

C) Without involving any owned

D) Without involving any authenticated

Answer: B) Without involving any third party

5. What does P2P stand for?

A) Peer to Peer

B) Product to Product

C) Password to Password

D) None of the above

Answer: A) Peer to Peer

6. Blockchain has ____ versions.

A) 2

B) 3

C) 4

D) 5

Answer: B) 3

7. Who introduced the digital online cryptocurrency known as Bitcoin?

A) Satoshi Nakamoto

B) Nick Szabo

C) Wei Dai

D) Hal Finney

Answer: A) Satoshi Nakamoto

8. A blockchain enables peer-to-peer transfer of digital currency without any intermediaries such as banks.

A) False

B) True

Answer: B) True

9. Did Blockchain enable a centralized or a decentralized system for the exchange of value?

A) Decentralized

B) Centralized

C) None of the above

D) Can't say

Answer: A) Decentralized

10. What does a block in a Blockchain have?

A) Header & Digital ledger

B) Bitcoins & Input

C) Transactions & Bitcoins

D) Header & Transaction

Answer: D) Header & Transaction

11. What does UTXO stand for?

A) Unspent Trade Offer

B) Unspent Transaction xeroxed Output

C) Unique Transaction Offer

D) Unspent Transaction Output

Answer: D) Unspent Transaction Output

12. Does a transaction generate new UTXOs for transferring the amount specified in the input UTXOS?

A) False

B) True

Answer: B) True

13. Transaction 0 in every block of the bitcoin blockchain________.

A) Is for paying the miner fees

B) Does not have any input UTXO

C) Is called the coinbase transaction

D) All of the above

Answer: D) All of the above

14. What is the genesis block?

A) Any block created by the founder

B) The last block created in the Blockchain

C) The first block of a Blockchain

D) The first transaction in each block

Answer: C) The first block of a Blockchain

15. ___ hosts the software needed for transaction initiation, validation, mining, block creation, and smart contract execution.

A) External Account


C) Ethereum full node

D) Smart Contract

Answer: C) Ethereum full node

16. __________ receive verify, gather and execute transactions.

A) Miner nodes

B) Smart Contracts

C) Light wallets

D) Ethereum full node

Answer: A) Miner nodes

17. What is Blockchain?

A) A  currency

B) A ledger

C) A type of currency

D) A distributed ledger on a peer-to-peer network

Answer: D) A distributed ledger on a peer-to-peer network

18. Bitcoin is based on _________ blockchain.

A) Private

B) Public

C) Public Permissioned

D) Permissioned

Answer: B) Public

19. BATM stands for _____.

A) Bounded access transaction machine

B) Broadcast ATM

C) Bitcoin ATM

D) Blockchain ATM

Answer: C) Bitcoin ATM

20. Smart Contract characteristics do not include:

A) Alterable

B) Fast and cost-effective

C) A high degree of accuracy

D) Transparency

Answer: A) Alterable