Chap7-Class 1 Blockchain

Which one is not an appropriate blockchain application?

• Smart contract

• Centralized record storage

• Litecoin

• Product supply chain logistics: verify the sources of your food

Which one is not a benefit of blockchain application?

• Relatively lower processing cost than credit card transaction processing

• Everyone can participate in managing and monitoring the ledger

• Suitable for storing business transactions written in papers

• None of the above (i.e. all other options are the benefits)

In a ________ blockchain network, each member in the network has a copy of the exact same data in the form of a distributed ledger. If a member's ledger is altered, it will be rejected by the majority of the members in the network.

• Centralized trust

• Decentralized trust

• Mutual trust

Which one is not a cryptocurrencies?

• Bitcoin

• Litecoin

• Ethereum

• Dogecoin

• None of the above (i.e. all other options are valid)

Which one is not a concern in bitcoin mining?

• Electricity consumption

• The number of users in the Ledger

• Total computational power

• None of the above (i.e. all other options are valid)

Which one is not an essential component in Blockchain?

• Signature (Hash)

• Remark

• ounce

• All are essential components

Which one is not a routine task done by bitcoin miners?

• Keep the transaction records (in blockchain)

• Make sure all transactions are valid

• Remove transaction records (in blockchain)

• All verified valid transactions are packed in a block and published to the public

Which one is not a benefit of smart contract?

• The terms, rules and conditions of the contract are translated into code, published on the blockchain.

• If a condition is met, the corresponding code is executed and the payment is done.

• The payment is recorded on the blockchain as completion of (part of) the contract.

• All are the benefits