Blockchain Fundamentals

What is the consensus mechanism used by Bitcoin?

• Proof of Authority (PoA)

• Proof of Work (PoW)

• Delegated Proof of Stake (DPoS)

• Proof of Stake (PoS)

Which programming language is commonly used to write smart contracts on Ethereum?

• Solidity

• C++

• Python

• Java

What is the process of integrating cryptocurrency into a blockchain network called?

• Decentralization

• Tokenization

• Encryption

• Smart Contracting

What is the main advantage of decentralized applications (DApps) over traditional apps?

• Limited scalability

• Decentralization

• Centralization

• Higher costs

What are some common security measures implemented in blockchain networks?

• Blockchain transparency, centralized network structure, weak encryption methods

• Insecure data storage, public key encryption only, lack of cryptographic hashing

• Cryptographic hashing, consensus mechanisms, public and private key encryption, decentralized and distributed network structure, immutability of records

• Single point of failure, lack of consensus mechanisms, mutable records

What is the main difference between permissioned and permissionless blockchains?

• Access control

• Blockchain size

• Transaction speed

• Consensus mechanism

Give an example of an application of blockchain technology outside of cryptocurrencies.

• Social media platforms

• Supply chain management

• Online gaming

• Weather forecasting

Who is the pseudonymous creator of Bitcoin?

• Satoshi Nakamoto

• Toshi Nakamoto

• Yoshi Nakamoto

• Hiroshi Nakamoto

What is the native cryptocurrency of the Ethereum network?

• Bitcoin (BTC)

• Ripple (XRP)

• Litecoin (LTC)

• Ether (ETH)

What is the term used to describe the process of mining new bitcoins?

• Bitcoin mining

• Bitcoin digging

• Cryptocurrency harvesting

• Digital currency extraction