Which of the following are practical use cases for Blockchain?
Voting
A video sharing website
Medical records
Identity management
All of the above
References:
Why is Blockchain important?
It allows for a secure, global, and peer to peer record of data
It provides anonymity when making transactions
It is a free, trusted bank
It replaces all ledgers
Smart Contracts DO NOT provide_______________.
Authority
Anonymity
Efficiency
Accuracy
Which item(s) make up a block header?
The hash of the Merkle root and the header of the previous block
The hash of every transaction in a specific block and the next block
The time stamp of the block and the genesis block hash
The hash of the previous block
What do consensus methods achieve?
Anonymity in a peer to peer network
The highest level of security in a database by ensuring 51% agreement of nodes on the network.
The most efficient way of recording a transaction in any database.
It confirms that all nodes on the network are legitimate.
None of the above
How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate?
By paying miners with U.S. dollars
By paying the miners with cryptocurrency
By placing their name on the Blockchain
By not charging users monthly subscription costs
How much data can be represented by the data hash of a block?
a maximum of 20 MB
virtually any amount
not to exceed 100k bytes
the hash is only a memory location
Blockchains work best when they are____________________.
combined with other technologies
used for financial applications
used alone
used as an alternative to a database
The transaction has contained in a block is the ___________.
Metadata used for ID
Same as the user private key
Digital fingerprint of the block
Unique number to show it’s a Bitcoin block
TESTED 11 Dec 2024
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