Blockchain and Digital Assets 1

Question 1

Value is based on what?

Answer 1

Collective agreement that something has value. The agreement can be based on a variety of things (trust, scarcity, beauty, etc.)

Question 2

Bitcoin whitepaper name and year published

Answer 2

“Bitcoin: A Peer-To-Peer Electronic Cash System” in 2008

Question 3

Architectural (de)centralization 

Answer 3

How many physical computers a system is made up of (and how many of those computers can it tolerate breaking down at any single time)?

Question 4

Author(s) of Bitcoin whitepaper

Answer 4

Satoshi Nakamoto

Question 5

Name of Ethereum’s “world computer”

Answer 5

Ethereum Virtual Machine (EVM)

Question 6

How centralized organizations have taken advantage of their users?

Answer 6

Selling and monetizing their information without their knowledge.

Users become the product, with other companies being the customer, purchasing rights to advertise to those users.

Question 7

Traditional characteristics of money?

Answer 7

PUDDALS
Portable
Uniformity: Versions of the same currency have identical value
Divisible
Durable
Acceptability: legal tender
Limited Supply
Stable