Blockchain day 2

What does hashing means in Blockchain Technology?

• Plain text to Hashed Text to Hash functions

• Plain text to Public key to Hash Text

• Plain text to Hash Functions to Security Key

• Plain text to Hash Functions to Hashed Text

Select the answers that best suit why Blockchain Mining is considered a peer to peer process

• Transactions are passed around nodes to nodes

• Solving complex computation mathematics problems

• Node that solves the math problem wins a reward such as Bitcoin

• None of the above

Is it true that cryptography involves 2 types of keys?

• No

• Yes

• Sometimes

The first block in a Blockchain database is called:

What are the main differences between Proof of Work (POW) and Proof of Stake (POS) Consensus Algorithm? (Check all that apply)

• POW has no reward while POS is given a reward for their work

• There are no differences

• POW uses computing power while POS stake their coins on the blocks

• POS has uses the term validators while POW has miners

Whenever you want to send a payment to a recipient via blockchain, you ask for?

• Blockchain Address

• Blockchain Key

• Blockchain Number

• Blockchain Wallet

Despite the potentials of Blockchain Technology, why are there still risk in Blockchain?

• Hackers can still hack your computing power with malware

• Inability to recognise legitimate cryptocurrencies versus scams

• Consumers lack of understanding in managing their cryptocurrencies

• Lack of regulations catching up with fast moving innovation in blockchain technology

Digital Signatures uses what infrastructure to function?

• Digital Wallet to Function

• Consensus Algorithm to Function

• Private and Public Key to Function

• Blockchain Mining to Function

Can there be other consensus mechanisms for blockchain other than Proof of Work (POW) and Proof of Work (POS)?

• Yes

• No