Decentralized Delights: A Blockchain Adventure

What is a blockchain?

• A centralized database

• A decentralized ledger

• A computer virus

• A social media platform

What is the primary purpose of mining in a blockchain network?

• To create new cryptocurrencies

• To validate and add new transactions to the blockchain

• To increase the security of the blockchain

• To maintain a list of banned users

What consensus mechanism does Bitcoin use?

• Proof of Work (PoW)

• Proof of Stake (PoS)

• Delegated Proof of Stake (DPoS)

• Proof of Authority (PoA)

What is a private key in the context of blockchain?

• The secret code used to access a user's blockchain account

• A public address for receiving cryptocurrencies

• A unique identifier for a blockchain transaction

• A record of all previous blockchain transactions

In blockchain, what is a "token"?

• A digital representation of a physical item on the blockchain

• The unique identifier of a user in a blockchain network

• A cryptographic key used to secure a blockchain transaction

• A unit of value or utility issued on a blockchain

In blockchain, what does the term "gas" refer to?

• The fuel used by miners to power their mining rigs

• The fee required to access a blockchain network

• The total supply of a cryptocurrency

• A measure of computational effort required to process transactions

Which blockchain network was the first to introduce the concept of smart contracts?

• Bitcoin

• Ethereum

• Ripple

• Litecoin

What does the acronym "DApp" stand for in the context of blockchain?

• Decentralized Application

• Digital Asset Protocol

• Distributed Account Processing

• Data Analytics Platform

What is the purpose of a "hard fork" in a blockchain network?

• To create a new blockchain with its own set of rules and features

• To improve the performance of the blockchain

• To consolidate multiple blockchain networks into one

• To reduce the block size and transaction fees

What is the function of a "wallet" in a blockchain ecosystem?

• To store physical cryptocurrencies securely

• To convert fiat currency into cryptocurrencies

• To manage private keys and interact with the blockchain

• To facilitate peer-to-peer transactions