BlockChain Unit1

What is Blockchain?

• A centralized ledger

• A distributed ledger

• A private ledger

• A proprietary database

Which consensus mechanism is used in Bitcoin?

• Proof of Stake

• Proof of Burn

• Proof of Work

• Proof of Authority

What is a block in the context of blockchain?

• A type of cryptocurrency

• A collection of transaction data

• A software library

• A server node

Which of the following is NOT a key feature of blockchain?

• Decentralization

• Transparency

• Immutability

• Centralization

What cryptographic concept ensures data integrity in a blockchain?

• Encryption

• Digital Signatures

• Hash Codes

• Key Exchange

How is a blockchain different from a traditional database?

• It is centralized

• It is immutable and decentralized

• It is managed by a single entity

• It uses SQL for querying

What is a distributed ledger?

• A system where a single authority controls the records

• A decentralized system where records are shared across multiple nodes

• A peer-to-peer messaging system

• A database hosted on the cloud

What is a smart contract?

• A traditional legal contract

• A self-executing contract with the terms directly written into code

• A type of cryptocurrency

• A software license agreement

Which cryptographic method is primarily used to secure transactions in cryptocurrencies?

• Symmetric key encryption

• Asymmetric key encryption

• Hash Functions

• Digital Watermarking

What is the main purpose of a digital signature in blockchain?

• To encrypt data

• To verify the identity of the sender and ensure transaction integrity

• To perform consensus

• To generate private keys