Blockchain and Cryptocurrency Quiz

What is a blockchain?

• A type of cryptocurrency

• A decentralized digital ledger

• A centralized database

• A programming language

What does decentralization refer to?

• Increasing transaction speed

• Consolidating power in one place

• Distributing power away from a central authority

• Creating a single point of failure

What is a node in a blockchain network?

• A smart contract

• A digital wallet

• A computer that validates transactions

• A type of cryptocurrency

What is cryptocurrency?

• A decentralized application

• A type of blockchain

• Digital or virtual currency using cryptography

• A physical currency

What is a smart contract?

• A type of cryptocurrency

• A self-executing contract with terms in code

• A digital wallet

• A legal document

What does hashing do?

• Converts input into a fixed-size string

• Stores cryptocurrency

• Validates transactions

• Encrypts data

What is Proof of Work (PoW)?

• A programming language

• A type of digital wallet

• A consensus mechanism for validating transactions

• A method of creating new cryptocurrencies

What is a ledger?

• A mining process

• A decentralized application

• A record-keeping system for transactions

• A type of cryptocurrency

What does immutability mean in blockchain?

• The ability to change records

• The process of mining

• The quality of being unchangeable once recorded

• The speed of transactions

What is a consensus mechanism?

• A process to achieve agreement on the blockchain

• A method for creating tokens

• A way to store private keys

• A type of digital signature