Exam A Flashcards by Kim Lauwers

What does a Merkle tree provide?

A. Efficient block lookups and protection against forgery
B. Anonymity and transparency
C. A Turing complete distributed network
D. A way to deploy smart contracts onto the Blockchain
E. All of the above

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What does P2P stand for?

A. Person to Person
B. Public to Person
C. Peer to Peer
D. Product to Person
E. None of the above

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Blockchain is always decentralized.

A. True
B. False

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What is Ethereum?

A. Another name for Bitcoin
B. A platform for creating decentralized applications
C. A currency
D. Another name for Blockchain

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Why is Hyperledger a good business solution over other Blockchains?

A. Always permissioned and private
B. It can employ smart contracts
C. Modular design allowing for flexibility in solution
D. Multiple consensus methods can be chosen for use
E. All the above

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Transparency allows_____________.

A. a trustless system where users can be certain of a result
B. easy iteration through the Blockchain
C. Records on the Blockchain to never be changed
D. users on the Blockchain to change data on the Blockchain

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Blockchain is always a better alternative to a standard database.

A. True
B. False

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How does a private Blockchain differ from a public one? Select all that apply.

A. A private Blockchain does not use proof of work consensus
B. A private Blockchain is more efficient and has faster transaction times
C. A private Blockchain is not distributed
D. A private Blockchain often requires the identity of users to be known

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Why is a private Blockchain used instead of a public one?

A. To limit user access and permissions
B. It is less expensive to develop
C. It requires less mining power than a public Blockchain
D. It requires fewer administrators to manage it

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A distributed network is always decentralized.

A. True
B. False

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Blockchains work best when they are____________________.

A. combined with other technologies
B. used for financial applications
C. used alone
D. used as an alternative to a database

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What is a hash function?

A. A one-way function that converts input to a unique string output
B. A function that stores data behind a key
C. A two-way function used for condensing information
D. The block-ID of the block
E. All the above

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Blockchains are being implemented in the food supply chain because_____________.

A. consumers demand to know where their food comes from
B. it allows farm to table accountability for safety
C. they have the potential to provide fast, specific supplier data
D. it prevents food waste if a food contamination problem occurs
E. All of the above

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Which of the following are practical use cases for Blockchain?

A. Voting
B. A video sharing website
C. Medical records
D. Identity management
E. All of the above

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Which item(s) make up a block header?

A. The hash of the Merkle root and the header of the previous block
B. The hash of every transaction in a specific block and the next block
C. The time stamp of the block and the genesis block hash
D. The hash of the previous block

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How is Blockchain benefiting voting?

A. By revealing the identity of each voter and who or what they voted for
B. By controlling who gets to vote
C. By only allowing a certain number of votes per person
D. By allowing voters to trust their vote has been counted

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Which of the following statements sums up the Proof of Work consensus process?

A. Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.
B. Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.
C. All nodes agree on the data of the transaction.
D. Miners send assets to an inactive address. This process selects the next owner of a block.

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The Ethereum Blockchain provides a/an _____________ virtual machine.

A. Windows compatible
B. energy efficient
C. Linux compatible
D. turing-complete

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Which Blockchain protocol uses Proof of Work Consensus? Select all that apply

A. Hyperledger
B. Corda
C. Bitcoin
D. Ethereum
E. All of the above

A
C
D

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One of the big issues that new financial transaction Blockchain solutions face is____________.

A. increasing the number of transactions per second (TPS)
B. the inability to find use cases
C. solving user identity
D. getting banks to cooperate

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Once a record is stored on the Blockchain ____________.

A. the record is moved to a secure server
B. the record is stored on a central node
C. it can be changed by an authorized person
D. the record is permanent

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An asset is defined as ____________.

A. all records on a database
B. any data on the ledger
C. anything of value requiring accountability of ownership
D. any record on a private network

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One solution to increasing Blockchain Transactions Per Second (TPS) is________.

A. adding more network nodes
B. off-chain transactions
C. using faster microprocessors
D. fewer regulations

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Blockchain applications can provide____________________.

A. the elimination of intermediaries
B. building more trust between trusted parties
C. collaboration between trusted parties
D. better cooperation between banks

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A Blockchain does NOT provide which attribute? A. Security through distribution B. Anonymity through cryptography C. Fault Tolerance through distribution D. Immutability through hashing

____________ledger technology is referred to as DLT. A. Distributed B. Decentralized C. Database D. All of the above E. None of the above

In a private business Blockchain, transactions are endorsed by______________. A. only relevant business participants B. only the smart contract developer C. all the nodes on the Blockchain D. all participants with access to the network

Blockchain allows for which of the following? A. Anonymous Cryptography B. Trust in central authorities C. A fast and efficient ledger D. A peer to peer ledger without the need of a third party

Smart Contracts DO NOT provide_______________. A. Authority B. Anonymity C. Efficiency D. Accuracy

The transaction hash contained in a block is the______________. A. unique number to show it’s a Bitcoin block B. same as the user private key C. digital fingerprint of the block D. metadata used for ID

How does the Bitcoin provide anonymity? A. Through Merkle trees B. Through public/private key cryptography C. Through consensus algorithms such as Proof of Work D. By publishing only the block address E. None of the above

In its simplest state, a ledger_______________. A. determines which node stores the assets B. records the transfer of an asset between participants C. proves ownership on the Blockchain D. provides privacy to users on the Blockchain

Blockchain 3.0 combined with the internet 3.0 will dramatically increase Blockchain use? A. True B. False

If a node on the network were to lose a copy of the ledger, the ledger is not lost. The large number of other nodes have a copy and won’t lose track. This is known as___________. A. Censorship B. Immutability C. Transparency D. Redundancy

What is the focus or primary goal of a private Blockchain? Select all that apply. A. To provide anonymity in business B. To save money by eliminating intermediaries C. To create a distributed database that allows for CRUD D. To provide transparency and trust for business while remaining secure

Blockchain is faster and more efficient than a standard database. A. True B. False

Blockchain technology uses__________________. A. the latest banking software B. the same network S/W as the central bank C. the latest router S/W and network H/W D. A combination of older technology

Blockchain transaction code categorizes the data put into blocks. A. True B. False

What is dApp? A. A decentralized application B. A dishonest application C. A decoded application D. A distributed application

The Blockchain combined with the Internet of Things (IoT) will dramatically ____________. A. increase the use of cryptocurrency B. speed up the internet C. make Bitcoin less expensive D. increase device connectivity

How much data can be represented by the data hash of a block? A. a maximum of 20 MB B. virtually any amount C. not to exceed 100k bytes D. the hash is only a memory location

What is a Blockchain? A. A digital currency B. An unchangeable record C. A database of usable secret data D. A Smart Contract E. All of the above

Blockchain is the same as Bitcoin. A. True B. False

What is a node in a Blockchain? Select all that apply. A. A block B. Certificate Authority C. A miner D. A computer running on the Blockchain

Blockchain is always distributed. A. True B. False

The common safe place to store personal cryptocurrency is_____________. A. A digital wallet B. in a secure ledger C. a bank account D. in a secure database

Cryptocurrencies are a security regulated by the Securities and Exchange Commission. A. True B. False

Once a record has been added to a Blockchain it can be altered. A. True B. False

In 2009, Bitcoin was created by_________. A. Vitalik Buterin B. Satoshi Nakamoto C. Hyperledger Foundation D. A Banking Consortium

One of the great advantages of creating a new Blockchain solution is__________. A. the ability to completely customize a unique business solution B. combining Blockchain technologies to fit your business solution C. merging your existing network technology into a new Blockchain solution D. not being limited to a conventional business solution or restriction E. All of the above

What are the drawbacks of using Blockchain? Select all that apply A. High cost of developers B. Changing technology and the lack of a stable standard C. Its use of cryptography D. Its use of new applications

A Blockchain provides______________. A. true information by all parties involved B. a trusted transaction between untrusted parties C. the easiest way to conduct international transactions D. only trusted banks for conducting transactions

The Blockchain ledger is commonly referred to as___________. A. a database ledger B. a triple-entry ledger C. a double-entry ledger D. a genesis block

Blockchain has more built-in security than a standard database. A. True B. False

In which consensus algorithm is a nonce used? A. Proof of Activity B. Proof of Work C. Proof of Stake D. Proof of Burn E. All of the above

What does immutable mean? A. Fault tolerant B. Unable to be changed C. Highly secure D. None of the above

How are blocks chained together? A. By sharing the same transaction details B. Information of the previous block is embedded into the current block through hashing C. Information of the current block is embedded into the genesis block D. With a physical chain

Which of these applications would be suited for a private Blockchain? A. financial transactions B. manufacturing supply chain C. medical records D. food traceability E. All of the above

How would a developer make a change to Blockchain protocol? A. There are no restrictions, a developer could just change the code B. A developer would need to initiate a hard fork C. There is no way to change Blockchain protocol D. change the orderer configuration E. None of the above

How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate? A. By paying miners with U.S. dollars B. By paying the miners with cryptocurrency C. By placing their name on the Blockchain D. By not charging users monthly subscription costs

How does Blockchain use hashing? Select all that apply. A. To condense information making it easy to compare large amounts of data. B. To chain together blocks C. To provide anonymity with public key cryptography D. To select which node to use E. All of the above

B D

Blockchain does not provide? A. Security B. Immutability C. Fault tolerance D. Fact Transaction time

Which type of data can be stored on a Blockchain? A. A financial transaction B. A vote cast in an election C. A personal medical record D. Romeo and Juliet: The entire play E. All of the above

The cryptocurrency Bitcoin is__________. A. another application that runs on a Blockchain B. the same as all other cryptocurrencies C. replacing bartering in many parts of the world D. a replacement currency for the U.S. dollar

Which of the following problems did Blockchain solve for cryptocurrencies? A. Anonymity B. Double Spending C. Destination of currencies D. None of the above

One of Blockchain’s primary uses of cryptography is___________. A. keeping the network configuration a secret B. providing a public and private encryption key C. allowing users to communicate with each other anonymously D. keeping the I.P. addresses a secret

What happens if a block is confirmed at the same time? A. The blocks splits into two chains. Blocks are then added to each chain until one chain becomes larger. The longest chain is then considered to be the Blockchain. B. Nodes select which block to be added to the Blockchain C. Both chains are deleted, and the unconfirmed transactions are added back to the pool D. The Orderer Block confirms which block has the most confirmed transactions E. None of the above

The height of a block is the______________ in the chain between it and the genesis block. A. metadata that is B. number of blocks C. Merkle tree hash D. size of the memory cache

Who can read records on a public Blockchain? A. Everyone on the Blockchain B. No one C. Only the creator D. The users with access permissions E. None of the above

Transactions per second (TPS) for a Proof-of-Work Blockchain are approximately? A. 24K per second B. 175K per second C. Only limited to the number of nodes on the network D. 7-15 per second E. None of the above

Blockchains are being implemented in the food supply chain because ____________. A. Consumers demand to know where their food comes from B. It allows farm to table accountability for safety C. They have the potential to provide fast, specific supplier data D. It prevents food waste if a food contamination problem occurs. E. All of the above

Who governs a Blockchain? A. The users B. The architects C. The creator of the Blockchain D. The developers

What do consensus methods achieve? A. Anonymity in a peer to peer network B. The highest level of security in a database by ensuring 51% agreement of nodes on the network. B. The most efficient way of recording a transaction in any database. D. It confirms that all nodes on the network are legitimate. E. None of the above

Where is a Blockchain's central server? A. Where the Blockchain is created B. Located with the owner of the server C. There is no central server, it is distributed D. Orderer Node E. None of the above

What is a private Blockchain used instead of a public one? A. It is less expensive to develop B. It requires less mining power that a public Blockchain C. To limit user access and permissions D. It requires fewer administrators to manage it

Cryptocurrencies have all the same characteristics as fiat currencies? A. True B. False

What is a block? A. A list or record of data B. A wallet that stores digital currency C. A pool of unconfirmed transactions D. A list or record of certificates E. All of the above

Why is Blockchain important? A. It allows for a secure, global, and peer to peer record of data B. It provides anonymity when making transactions C. It is a free, trusted bank D. It replaces all ledgers E. All of the above

Blockchain work best when they are _____________ . A. Combined with other technologies B. Used for financial applications C. Used alone D. Used as an alternative to a database

One of Blockchain's primary uses of cryptography is ___________. A. Keeping the IP addresses a secret B. Allowing users to communicate with each other anonymously C. Keeping the network configuration a secret. D. Providing a public and private encryption key

A Blockchain is a/an _____________ shared ledger distributed system. A. Anonymous B. Newer version of a C. Append-only D. Confidential

A smart contract on the Blockchain provides __________. Select all that apply A. Specific actions to be taken on events or transactions B. The same contracts a bank provides C. A set of business conditions that must be met D. Better anonymity of those making transactions

The transaction has contained in a block is the ___________. A. Metadata used for ID B. Same as the user private key C. Digital fingerprint of the block D. Unique number to show it’s a Bitcoin block

The Corda distributed ledger is designed for _______________. A. Any business transactions B. International shipping C. The transportation industry D. Financial transactions

Exam A Flashcards

https://www.examtopics.com/exams/blockchain/cbbf/view/ (84 cards)