Blockchain and DLT Class Quiz

What is blockchain?

• A type of centralized ledger system

• A type of financial transaction system

• A combination of existing technologies to create something new

• A type of decentralized ledger system

What is a ledger?

• A type of computer software

• A group of records of transactions

• A type of digital currency

• A type of financial institution

What does a transaction record?

• A record of government regulations

• A record of anything that has been exchanged with something else

• A record of historical events

• A record of personal information

What does a bank account ledger show?

• Both withdrawals and deposits

• Only deposits

• Only current balance

• Only withdrawals

What does it mean for a system to be distributed?

• The data resides on one controller

• Each user has a full copy of the ledger

• The data is controlled by a central authority

• The data is not accessible to all users

What does immutable mean in the context of blockchain?

• Something that can be changed or modified

• Something that can never be changed, modified, deleted, or amended

• Something that can be deleted and amended

• Something that can be changed but not deleted

What happens if someone makes a mistake in a blockchain record?

• The mistake is ignored

• The entire blockchain is deleted

• The mistake is automatically corrected

• Another record is written to acknowledge the mistake

What is a block in a blockchain?

• A type of financial transaction

• A type of computer code

• A type of digital currency

• A block of data

How are blocks connected in a blockchain?

• They are not connected

• They are connected in a random order

• Each block is locked to the one before and after it

• Each block is independent of the others

Why can no block in a blockchain be moved or modified?

• Because the blocks are constantly changing

• Because the blocks are controlled by a central authority

• Because the blocks are locked to each other

• Because the blocks are encrypted