Blockchain Quiz

What is the purpose of a blockchain?

• To store and transmit information securely

• To make transactions faster

• To eliminate the need for intermediaries in financial transactions

• All of the above

How is the data stored on a blockchain?

• In a central database

• In a decentralized network of nodes

• In a cloud-based storage system

• None of the above

What is a block in a blockchain?

• A single unit of data that is stored on a chain

• A physical object that represents a transaction

• A code that is used to encrypt data

• None of the above

What is a smart contract?

• An agreement between two parties that is automatically executed by the blockchain

• A code that is used to secure data on the chain

• A type of encryption that is used to protect sensitive data

• None of the above

What is a mining reward in blockchain?

• A fee paid by the user for processing a transaction

• A fee paid by the miner for using the network

• A cryptocurrency reward given to the miner for validating a block

• None of the above

What is a fork in blockchain?

• A tool used for mining new blocks

• A split in the blockchain resulting in two separate chains

• A type of encryption used to protect data on the chain

• None of the above

What is the difference between public and private blockchains?

• Public blockchains can be accessed by anyone, while private blockchains are restricted to a specific group of users

• Public blockchains are faster than private blockchains

• Private Blockchains are more secure than public blockchains

• None of the above

What is the role of a node in blockchain?

• To validate transactions and add them to the blockchain

• To store and transmit data on the chain

• To mine new blocs and earn rewards

• All of the above

What is the most well-known cryptocurrency that uses blockchain technology?

• Ethereum

• bitcoin

• Repple

• Litecoin

What is the potential benefit of blockchain technology in industries outside of finance?

• More secure data storage and sharing

• Improved supply chain management

• Enhanced voting system

• All of the above