Blockchain Day 2 Final Quiz

Blockchain Technology has various characteristics. Which of the following best summarises what you have learned?

• Decentralised, Peer to Peer Transactions and Cryptography

• Cryptography, Distributed and Peer to Peer Transactions

• Decentralised, Peer to Peer Transactions and Distributed

• Cryptography, Distributed and Centralised

What does hashing means in Blockchain Technology?

• Plain text to Hashed Text to Hash Functions

• Plain text to Public Key to Hash Text

• Plain text to Hash Functions to Security Key

• Plain text to Hash Functions to Hashed Text

Select the answers that best suit why Blockchain Mining is considered a peer to peer process. (More than 1 answer or none)

• Transactions are passed around from nodes to nodes.

• Solving complex computational mathematics problems.

• Node that solves the math problem wins a reward such as Bitcoin.

• None of the above.

Is it true that Blockchain Cryptography involves 2 keys?

• No

• Yes

• Sometimes

• Bi-weekly

The first block in Blockchain database is called:

What are the main differences between Proof of Work (POW) and Proof of Stake (POS) Consensus Algorithm? (More than 1 answer)

• POW has no reward while POS is given a reward for their work.

• There are no differences

• POW uses computing power while POS stake their coins on the blocks.

• POS has validators while POW has miners.

Whenever you want to send a payment to a recipient via a blockchain, you ask for?

• Blockchain Address

• Blockchain Key

• Blockchain Number

• Blockchain Wallet

Despite the potentials of Blockchain Technology, why are there still risk in Blockchain? (More than 1 answer)

• Hackers can still hack your computing power with malware.

• Inability to recognise legitimate cryptocurrencies versus scams.

• Blockchains are disrupting business models and reducing revenue.

• Speculation of investments in bitcoin, ether and many other coins poses un-settlement in the blockchain space.

Digital Signatures uses what infrastructure to function?

• Digital Wallet to Function

• Consensus Algorithm to Function

• Private and Public Key to Function

• Blockchain Mining to Function

Describe Your Ethereum Blockchain Idea using Smart Contract. Have fun!