Video 4 - Blockchain Technology Overview

What is the blockchain technology primarily a combination of?

• Cryptography and distributed computing

• Artificial intelligence and machine learning

• Networking and cybersecurity

• Data analysis and cloud computing

What is the unique identifier given to each record of data in the blockchain?

• Key

• Code

• Hash

• Token

What is the purpose of the distributed consensus algorithm in the blockchain?

• To create a linear chronological order

• To alter the database without consensus

• To centralize the database

• To validate transactions

What is the term used for the secure distributed records in the blockchain?

• Encrypted files

• Centralized registries

• Shared databases

• Distributed ledgers

What are smart contracts in the blockchain?

• Contracts for token exchange

• Self-executing contracts written in code

• Contracts between blockchain nodes

• Physical contracts stored in a blockchain

What is the main purpose of token networks in the blockchain?

• To create a secure database

• To create incentive structures

• To automate blockchain operations

• To manage technology infrastructure

What does the blockchain technology enable in terms of organizational structures?

• Centralized institutions

• Decentralized networks

• Distributed markets

• Intermediary third-party institutions

What does the blockchain merge to strengthen the capacity of information networks?

• Internet and infrastructure

• Institutional structures and society

• Data and analytics

• Economics and technology

What is the blockchain's capacity to coordinate a network of autonomous nodes primarily achieved through?

• Broader processes of change

• Development of the Internet of Things

• Design of incentive systems

• Innovations in information technology

What is the blockchain considered as in terms of organizing society and economy?

• A standalone infrastructure

• A complementary technology

• A replacement for traditional systems

• A new mode for organizing