BLOCKCHAIN MULTIPLE CHOICE QUESTION MCQ

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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

B) EVM

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