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

What does P2P stand for?

• Password to Password

• Peer to Peer

• Product to Product

• Private Key to Public Key

What is a node?

• A type of cryptocurrency

• A Blockchain

• A computer on a Blockchain network

• An exchange

Who created Bitcoin?

• Satoshi Nakamoto

• John Mcafee

• Samsung

• China

What is a miner

• A type of blockchain

• An algorithm that predicts the next part of the chain

• A person doing calculations to verify a transaction

• Computers that validate and process blockchain transactions

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

• Nounce

• Node

• Hash

• A wallet

What are smart contracts?

• define the rules and penalties around a specific agreement

• define the procedure of using wallet

• define the standard operational procedures

A blockchain is secured by

• PIN code

• 'hash' code

• password

• login

What does proof of stake stand for ?

• 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.

• 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.

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

• P2P networks are more difficult to setup

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

• P2P networks are more stable than decentralized network

• All P2P network are decentralized and vice-versa

How does Blockchain achieve high availability?

• Complex Protocol

• Decentralization

• Nodes never go down(offline)

• Implemented on the internet