Ethereum Devcon Quiz - 1

What is the primary purpose of a consensus mechanism in blockchain?

• 1. To ensure data privacy

• 1. To validate and agree on the state of the blockchain

• 1. To create new cryptocurrencies

• 1. To facilitate smart contracts

1. What is a "smart contract" ?

• 1. A traditional legal contract

• A self-executing contract with terms written into code

• 1. A contract that requires a lawyer to execute

• 1. A software application for mining cryptocurrencies

1. Which of the following is a public blockchain?

• 1. Hyperledger Fabric

• Ethereum

• Corda

• Quorum

In Ethereum, what does the "EVM" stand for?

• 1. Ethereum Value Management

• Ethereum Virtual Machine

• 1. Ethereum Verification Model

• 1. Ethereum Virtual Memory

1. What is the function of a "block explorer"?

• 1.  To allow users to view and search blockchain data

• To provide a user interface for interacting with smart contracts

• 1. To mine new blocks

• 1. To store private keys securely

1. Which of the following best describes the concept of "staking" in blockchain?

• 1. Using computational power to validate transactions

• Holding and locking up a cryptocurrency to support network operations and earn rewards

• 1. Executing smart contracts

• 1. Developing decentralized applications

1. What does "decentralization" mean in the context of blockchain technology?

• 1. All data is stored in a central database

• 1. Data is controlled by a single entity

• Data is spread across multiple nodes with no single point of control

• 1. Transactions are always private

1. What is the primary purpose of a cryptocurrency wallet?

• 1. To mine new cryptocurrencies

• To store digital keys and facilitate transactions

• 1.  To create new blocks in a blockchain

• 1.  To provide internet access

1. Which cryptographic technique is commonly used to ensure the integrity of data on a blockchain?

• Hashing

• Public key cryptography

• Symmetric encryption

• Digital signature

1. What is a "genesis block"?

• 1. The last block in a blockchain

• A block that has not yet been validated

• The first block in a blockchain

• 1. A block containing a reward