Module 1 Quiz

What is one of the key features of blockchain technology that ensures the integrity of recorded data?

• Centralization

• Immutability

• Flexibility

• Opacity

Answer explanation

Immutability is one of the key features of blockchain technology that ensures the integrity of recorded data by making it tamper-proof and unchangeable.

Which consensus mechanism is commonly used to validate transactions in blockchain networks?

• Proof of Authority (PoA)

• Proof of Identity (PoI)

• Proof of Work (PoW)

• Proof of Trust (PoT)

Answer explanation

Proof of Work (PoW) is commonly used to validate transactions in blockchain networks by requiring miners to solve complex mathematical puzzles to add new blocks to the chain.

What is the term used to describe the process of adding new blocks to a blockchain?

• Encryption

• Validation

• Consensus

• Mining

Answer explanation

The term used to describe the process of adding new blocks to a blockchain is 'Mining' as miners compete to solve complex mathematical puzzles to validate transactions and add blocks to the chain.

Which cryptocurrency is known for implementing the Delegated Proof of Stake (DPoS) consensus mechanism?

• Bitcoin

• Ethereum

• EOS

• Ripple

Answer explanation

EOS is known for implementing the Delegated Proof of Stake (DPoS) consensus mechanism.

What is the purpose of a public key in blockchain technology?

• To encrypt data

• To sign transactions

• To verify identity

• To mine new coins

Answer explanation

The purpose of a public key in blockchain technology is to verify identity, not to encrypt data, sign transactions, or mine new coins.

How does blockchain enhance the security of voting systems?

• By allowing multiple votes per person

• By making votes publicly accessible

• By ensuring transparency and immutability of votes

• By enabling anonymous voting

Answer explanation

By ensuring transparency and immutability of votes

What is the term used to describe the process of confirming transactions in a blockchain network?

• Encryption

• Validation

• Consensus

• Mining

Answer explanation

The term used to describe the process of confirming transactions in a blockchain network is 'Consensus' as it involves all nodes in the network agreeing on the validity of transactions.

Which blockchain network is known for its smart contract functionality?

• Bitcoin

• Ethereum

• Litecoin

• Stellar

Answer explanation

Ethereum is known for its smart contract functionality, making it the correct choice among the options provided.

What role does a private key play in securing blockchain transactions?

• To encrypt data

• To sign transactions

• To verify identity

• To mine new coins

Answer explanation

The private key plays a role in securing blockchain transactions by signing transactions, ensuring authenticity and integrity.

What makes altering data in a blockchain extremely difficult?

• Lack of encryption

• Centralized control

• Immutability of recorded data

• Absence of consensus mechanisms

Answer explanation

The immutability of recorded data in a blockchain makes altering data extremely difficult as it ensures that once data is added, it cannot be changed or deleted.