CONSENSUS AND INFRASTRUCTURE

Question 1

PoW

Answer 1

Proof of Work: miners solve puzzles to validate blocks (e.g., Bitcoin).

Question 2

PoS

Answer 2

Proof of Stake: validators are chosen by how much crypto they lock up.

Question 3

DPoS

Answer 3

Delegated Proof of Stake: token holders elect delegates to secure the network.

Question 4

PoA

Answer 4

Proof of Authority: pre-approved validators secure a network (common in private chains).

Question 5

ASIC

Answer 5

Application-Specific Integrated Circuit: hardware optimized for mining one PoW algorithm.

Question 6

L1

Answer 6

Layer 1: the base blockchain (e.g., Bitcoin, Ethereum).

Question 7

L2

Answer 7

Layer 2: scalability solutions built atop an L1 (e.g., rollups).

Question 8

GAS

Answer 8

Fee units on Ethereum (and EVM chains) needed to execute transactions or contracts.

Question 9

Gas Price

Answer 9

Amount you pay per unit of gas—higher price speeds up transaction inclusion.

Question 10

Gas Limit

Answer 10

Maximum gas a transaction is allowed to consume.

Question 11

TPS

Answer 11

Transactions Per Second: throughput metric for blockchain networks.

Question 12

MEV

Answer 12

Maximal Extractable Value: profit validators can earn by reordering or including certain transactions.

Question 13

Hash Rate

Answer 13

Total computational power securing a PoW network, measured in hashes per second.

Question 14

Block Time

Answer 14

Average time between blocks being mined/validated.

Question 15

Block Reward

Answer 15

Tokens awarded to the miner/validator for producing a new block.

Question 16

Block Height

Answer 16

The number of blocks in the chain up to a given block.

Question 17

Node

Answer 17

A machine running blockchain software to validate and relay transactions.

Question 18

Full Node

Answer 18

Stores and validates the entire blockchain history.

Question 19

Light Node

Answer 19

Stores block headers and relies on full nodes for detailed info.