IGCSE CS 5.2 Blockchain

What is blockchain?

• A decentralized database with no centralized control

• A physical chain made of blocks

• A centralized database controlled by a single entity

• A type of spreadsheet for recording information

What is the unique identifier generated by a cryptographic algorithm for each block?

• Fingerprint

• Hash

• Timestamp

• Value

What is the first block in a blockchain known as?

• Origin block

• Genesis block

• Inception block

• Alpha block

What is the method of data storage in blockchain called?

• Decentralized

• Centralized

• Non-destructive

• Destructive

What is the reward received by nodes for validating transactions in blockchain?

• Proof of Stake

• Proof of Concept

• Proof of Work

• Proof of Authority

What is likely to be the future of governments in terms of currency according to the text?

• Transitioning from fiat currency to cryptocurrency

• Abandoning digital transactions altogether

• Adopting a single blockchain for all transactions

• Moving from cryptocurrency to fiat currency

What problem can blockchain identity systems potentially solve?

• Creating more complex security measures

• Providing a single source for verifying identities

• Increasing fraud in financial transactions

• Reducing the number of digital transactions

What is the main advantage of using blockchain for international trade?

• Increased fraud and corruption

• Greater trust between nations

• Slower commerce and trade

• More paperwork and regulation

What is the purpose of a distributed ledger technology (DLT) in blockchain?

• To manipulate the price of cryptocurrency

• To erase and overwrite data

• To distribute data across multiple participants

• To centralize control of data

What is the role of crypto miners in the blockchain network?

• To validate transactions and receive rewards

• To hack into the system and manipulate data

• To control the distribution of ledgers

• To erase existing blocks in the chain