Blockchain01

Front

What is blockchain?

Back

A decentralized, distributed ledger technology that records transactions across multiple computers in a secure and transparent manner.

Answer explanation

Blockchain is a decentralized, distributed ledger technology that securely records transactions across multiple computers, ensuring transparency and security, unlike centralized systems or cryptocurrencies.

Front

What are the key features of blockchain technology? Options: Decentralization, transparency, immutability, security, efficiency, Centralization, Flexibility, Anonymity

Back

Decentralization, transparency, immutability, security, efficiency

Answer explanation

The key features of blockchain technology include decentralization, which eliminates single points of failure; transparency, allowing all participants to verify transactions; immutability, ensuring data cannot be altered; security, protecting against fraud; and efficiency, streamlining processes.

Front

How does blockchain ensure security?

Back

Blockchain ensures security through decentralization, cryptographic hashing, consensus mechanisms like Proof of Work or Proof of Stake, and immutability of data once added to the chain.

Answer explanation

Blockchain ensures security through decentralization, which eliminates single points of failure, and uses cryptographic hashing and consensus mechanisms like Proof of Work or Proof of Stake to validate transactions, ensuring data immutability.

Front

What is a block in a blockchain?

Back

A block in a blockchain is a data structure that contains a group of transactions.

Answer explanation

A block in a blockchain is a data structure that contains a group of transactions, making it essential for recording and verifying data in the blockchain. The other options do not accurately describe a block.

Front

Explain the concept of decentralization in blockchain.

Back

Decentralization in blockchain involves distributing control and data across a network of computers, rather than relying on a single central entity.

Answer explanation

Decentralization in blockchain means that control and data are spread across many computers, enhancing security and reducing reliance on a single entity, which is accurately described in the correct answer choice.

Front

What is the difference between public and private blockchains?

Back

Public blockchains are open to anyone, decentralized, transparent, and secure through consensus mechanisms like Proof of Work, while private blockchains restrict access to specific participants and are centralized.

Answer explanation

Public blockchains are accessible to anyone and operate on decentralized consensus mechanisms, ensuring transparency and security. In contrast, private blockchains limit access to specific users and are typically centralized.

Front

What are some real-world applications of blockchain technology?

Back

Some real-world applications of blockchain technology include supply chain management, voting systems, digital identity verification, smart contracts, and decentralized finance (DeFi).

Answer explanation

The correct answer highlights key real-world applications of blockchain technology, such as supply chain management and decentralized finance, which utilize its secure and transparent nature, unlike the other unrelated options.

Front

What are the challenges faced by blockchain technology? Options: Scalability, energy consumption, regulatory uncertainty, lack of standardization, security vulnerabilities, Interoperability issues, Lack of public interest, Blockchain technology is too expensive

Back

Scalability, energy consumption, regulatory uncertainty, lack of standardization, security vulnerabilities

Answer explanation

Blockchain faces several challenges, including scalability issues that hinder transaction speed, high energy consumption, regulatory uncertainty affecting adoption, lack of standardization across platforms, and potential security vulnerabilities.

Front

What is the role of a node in a blockchain network?

Back

A node is a computer that participates in validating and relaying transactions on the blockchain network.

Answer explanation

A node in a blockchain network is a computer that validates and relays transactions, ensuring the integrity and security of the network. This role is crucial for maintaining the decentralized nature of blockchain.

Front

What is a characteristic feature of a public blockchain?

Back

Transactions are visible to anyone

Answer explanation

A characteristic feature of a public blockchain is that transactions are visible to anyone. This transparency is fundamental to its decentralized nature, allowing anyone to verify and audit transactions without needing permission.