What does proof of stake stand for ?

Proof of stake is cryptographic hash-based proof-of-work algorithm that requires a selectable amount of work to compute, but the proof can be verified efficiently.

Proof of stake is a system of validation invented by Hal Finney, that enables bitcoin to achieve distributed consensus.

Proof of stake is the consensus algorithm used by bitcoin.

Proof of stake is a type of consensus algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age.

Difference between P2P(Peer-to-Peer) network and decentralized network

P2P network has direct connection between each pair while in decentralized networks this is always true

P2P networks are more difficult to setup

P2P networks are more stable than decentralized network

All P2P network are decentralized and vice-versa

Open software platform based upon Blockchain technology

Private software platform based upon Blockchain technology

Programming language for writing Smart Contracts

Programming language for mobile apps

What is a fiat currency?

A currency that is declared a currency by the government, although not backed by a physical commodity

Currency backed by a gold standard

A currency used to purchase a car

A currency backed by a physical commodity

What are Mining pools?

When miners group together to share resources

The place where miners search for BTC

What is a block reward?

Newly generated bitcoins that go to the miner who mined the block

A sum of all transaction fees for transactions included into the block, collected by the miners

A sum of all transaction fees in a block plus newly generated bitcoins that go to the miner who mined the block

When is the miner given the block reward?

Final Hash generated by him is less than the difficulty level of the block

Final Hash generated by him is greater than the difficulty level of the block

Final Hash generated by him is equal to the difficulty level of the block

How does the blockchain model for business differ from bitcoin?

The blockchain based business model provides user-specific accessibility and data security whereas bitcoin only supports the later part.

The blockchain based business model uses the append-only system for storing record whereas bitcoin uses the update-only system.

Anyone can join the bitcoin network, but only permissioned entities join the enterprise network.

Say, at some instance three independent miners propose the following three blocks (containing the transactions enclosed in []) B1=[T100, T102, T104, T105], B2=[T100,T102,T103], and B3=[T100, T102,T103,T104,T105]. If the consensus algorithm is Proof of Work (PoW). Which of these blocks likely to get included in the chain once the network achieves consensus, given the last block in the blockchain has transactions T98, T99 and T101?

Each of these blocks have equal chances to get added to the blockchain

With mining pools in effect, which of the following problem or problems may appear in the BitCoin network:

Participation of smaller miners with lesser resources

Discouragement among miners to fully complete the task posed by the network

There are disadvantages with this scheme

What is the correct sequence of events to add a new organization to an existing Hyperledger Fabric network?

update config, channel update, fetch channel genesis block, peer join channel

channel update, update config, fetch channel genesis block, peer join channel

fetch channel genesis block, update config, channel update, peer join channel

update config, fetch channel genesis block, channel update, peer join channel

At what stage(s) in the transaction flow can the endorsement policies be validated?

Peer commits the block of transactions

Proposal Submission to the peers.

Submit Collated Responses to the Orderer.

Orderer creates the block of transactions

What function do the Orderer’s play in the Hyperledger Fabric Network?

Open and verify the ReadWrite set of transactions

Send Block Events to client applications

What is the role of Hyperledger Composer in an Enterprise Blockchain application?

Provides a way to define the business transactions

Provides a way to define the MSP.

Provides a way to view the transactions blocks in the blockchain

Provides a way to configure the blockchain network nodes

How will blockchain play provide an advantage in implementing it with GST payments?

Blockchain smart contracts can calculate the invoice based on the tax amount that is already levied during the production process

Smart contract directly transfers the tax amount to tax authority (CGST or SGST)

It ensures that the return filing process is not required

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AICTE-STTP_"BlockChain & Applications" Slot-1_Assessment

50 questions

What does P2P stand for?

What is a node?

Who created Bitcoin?

What is a miner

What should be chosen so that the generated hash ends in two zeros.

What are smart contracts?

A blockchain is secured by

What does proof of stake stand for ?

Difference between P2P(Peer-to-Peer) network and decentralized network

How does Blockchain achieve high availability?

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