
Bitcoin Mining Concepts and Protocols

Interactive Video
•
Computers, Business
•
9th - 12th Grade
•
Hard

Sophia Harris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary role of Bitcoin miners in the network?
To create new Bitcoins by printing them
To maintain the blockchain by validating transactions
To provide loans in Bitcoin
To regulate the price of Bitcoin
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum number of Bitcoins that can ever be generated?
50 million
100 million
21 million
10 million
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is expected to incentivize miners once the Bitcoin limit is reached?
Donations from users
Increased block rewards
Transaction fees
Government subsidies
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the smallest unit of Bitcoin called?
Bit
Satoshi
Microcoin
Nakamoto
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often is the Bitcoin mining reward halved?
Every 1,000,000 blocks
Every 500,000 blocks
Every 210,000 blocks
Every 100,000 blocks
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the proof-of-work protocol in Bitcoin mining?
To secure the network by requiring computational effort
To allow miners to choose their own rewards
To make mining easier over time
To ensure transactions are reversible
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the difficulty of the proof-of-work protocol adjusted?
Based on the number of transactions
According to the price of Bitcoin
Randomly every month
To maintain a consistent block generation time
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