BCT Quizz

Bitcoin is created by ______

• 1. Satoshi Nakamoto

• 1. Vitalik Buterin

• 1. Saifedean Ammous

• 1. None of the above

The alternatives to POW are ______

• 1. Delegated Proof Of Stake

  2.  

• 1.  Proof of stake

• 1. Both A and B

• 1. None of the above

PoW is most notably used by

• Bitcoin

• Litecoin

• Ethereum

• all the above

What is a potential drawback of Proof of Work (PoW) in blockchain systems?

• Vulnerable to 51% attacks

• Requires minimal energy consumption

• Allows for quick transaction finality

• Easily scalable for large networks

Which of the following is NOT a benefit of using Proof of Work (PoW) in blockchain?

• Decentralization

• Security against Sybil attacks

• Energy efficiency

• Incentivizing miners with rewards

What happens to the miner who successfully solves the Proof of Work (PoW) puzzle?

• Increases the difficulty level for subsequent blocks

• Receives transaction fees as rewards

• Resets the blockchain to the genesis block

• Loses their mining rights temporarily

Which of the following is a potential drawback of Proof of Stake (PoS)?

• High energy consumption

• Susceptibility to 51% attacks

• Limited decentralization

• Slow transaction processing

Which blockchain network is known for implementing a Delegated Proof of Stake (DPoS) consensus mechanism?

• Bitcoin

• Ethereum
  

• Cardano

• EOS

Which of the following is a potential advantage of Proof of Stake (PoS) compared to Proof of Work (PoW)?

• Greater decentralization

• Higher security against 51% attacks

• Lower barrier to entry for participation

• Slower transaction confirmations

What is the primary consensus mechanism used in Proof of Stake (PoS) blockchain networks?

• PoW

• PoS

• DPoS

• PoA