Blockchain Quiz

What is the technology that ensures data cannot be altered by any of the users within the network?

• Proof of Work

• Public Distributed Ledger

• Proof of Stake

• Hash Encryption

What is the reward for the miner who solves a complex mathematical problem first and adds a block to the blockchain?

• 25 Bitcoins

• 12.5 Bitcoins

• 50 Bitcoins

• 6.25 Bitcoins

Which cryptocurrency uses the SHA-256 algorithm for its hashing process?

• Bitcoin

• Zcash

• Ethereum

• Litecoin

What is the term used for the process of adding a block to the blockchain?

• Hashing

• Proof of Stake

• Mining

• Proof of Work

What is the main advantage of using blockchain technology in cryptocurrencies?

• Daily Transfer Limits

• Counterfeiting Immunity

• Additional Charges

• Centralized Authority

What is the purpose of the private key in a Bitcoin transaction?

• To decrypt the transaction details

• To encrypt the transaction details

• To transmit the transaction across the world

• To sign the transaction digitally

What is the role of miners in the blockchain network?

• Manage wallets

• Create new cryptocurrencies

• Validate transactions

• Encrypt data

How does Walmart use blockchain technology to improve its services?

• To hide product damages

• To increase return rates

• To identify quality issues in the supply chain

• To reduce refunds

What is the term used for the chain of records in blockchain that is shared among all users?

• Public Distributed Ledger

• Proof of Work

• Hash Encryption

• Proof of Stake

Which cryptocurrency is mentioned as the supreme one among thousands in the market?

• Litecoin

• Ethereum

• Zcash

• Bitcoin