Understanding Blockchain Concepts

Understanding Blockchain Concepts

University

20 Qs

quiz-placeholder

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Understanding Blockchain Concepts

Understanding Blockchain Concepts

Assessment

Quiz

Computers

University

Easy

Created by

SUNITA YADAV

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are transaction fees in blockchain?

Transaction fees are charges paid to miners or validators for processing and confirming transactions on a blockchain.

Transaction fees are penalties for failed transactions.

Transaction fees are the costs of creating new cryptocurrencies.

Transaction fees are rewards given to users for holding cryptocurrency.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the different types of transaction fees?

Account Maintenance Fees

Transaction Processing Fees

Withdrawal Fees

Flat Fees, Percentage Fees, Network Fees, Service Fees, Currency Conversion Fees

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the concept of a Merkle tree.

A Merkle tree is a type of database used for storing large amounts of data.

A Merkle tree is a linear data structure that does not use hashing.

A Merkle tree is a graphical representation of data relationships.

A Merkle tree is a binary tree structure where each leaf node contains a hash of data, and each non-leaf node contains a hash of its child nodes, allowing for efficient data verification.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the types of blockchain?

Centralized, Decentralized, Distributed, Linear

Open, Closed, Semi-Open, Multi-Chain

Tokenized, Non-Tokenized, Layered, Forked

Public, Private, Consortium, Hybrid

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a cryptocurrency wallet?

A cryptocurrency wallet is a digital tool for storing and managing cryptocurrencies.

A cryptocurrency wallet is a type of bank account.

A cryptocurrency wallet is a software for trading stocks.

A cryptocurrency wallet is a physical device for storing cash.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do transaction fees affect blockchain transactions?

Transaction fees have no impact on transaction security.

Transaction fees are only applicable to cryptocurrency exchanges.

Transaction fees determine the amount of data stored on the blockchain.

Transaction fees affect the speed and priority of blockchain transactions.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a Merkle tree in blockchain?

To store transaction history in a linear format.

To create smart contracts automatically.

To verify data integrity and enable efficient proof of inclusion in a blockchain.

To enhance the speed of blockchain transactions.

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