Blockchain Quizz

What are some common reasons for bank transaction failures?

• Technical issues at the bank

• Account hacking

• Exceeding daily transfer limits

• All of the above

What are the characteristics of cryptocurrencies enabled by blockchain technology?

• Immune to counterfeiting, require a central authority, protected by simple algorithms.

• Immune to counterfeiting, don't require a central authority, protected by strong encryption algorithms.

• Prone to counterfeiting, require a central authority, protected by strong encryption algorithms.

• Prone to counterfeiting, don't require a central authority, protected by simple algorithms.

What is a public distributed ledger in the context of blockchain?

• A private record of transactions held by a single bank.

• A chain of records (blocks) that is shared among all participants in the network.

• A centralized database managed by a government entity.

• A system for tracking physical currency.

Why is it difficult for a hacker to alter data in a blockchain?

• Only one user has access to the ledger.

• The data within the blocks are unencrypted.

• Each user has a copy of the ledger, and data within blocks are encrypted by complex algorithms.

• Blockchain relies on a central authority to prevent alterations.

Are you enjoying the video lesson?

• Yes

• No

What is the process of solving a complex mathematical problem to add a block to the blockchain called?

• Proof of Stake

• Hashing

• Proof of Work

• Digital Signing