Quiz on Blockchain Technology

What is the primary function of a blockchain?

• To create cryptocurrencies

• To serve as a distributed ledger

• To store large amounts of data

• To enhance internet speed

Which characteristic of blockchain ensures that data cannot be altered once added?

• Consensus Mechanisms

• Immutability

• Transparency

• Decentralization

What mechanism is commonly used to validate transactions in blockchain?

• Proof of Identity

• Proof of Ownership

• Proof of Concept

• Proof of Work

In which area can blockchain enhance transparency and traceability?

• Healthcare

• Supply Chain Management

• Social Media

• Online Gaming

What are smart contracts?

• Contracts that are only valid in digital form

• Self-executing contracts with terms written in code

• Contracts that can be changed at any time

• Contracts that require a lawyer

How can blockchain technology improve voting systems?

• By enabling paper ballots

• By reducing the number of voters

• By ensuring votes are counted accurately and securely

• By allowing anonymous voting

What is a significant challenge facing blockchain technology?

• Scalability issues

• Lack of interest from industries

• Limited applications

• High transaction fees

Which of the following is NOT an application of blockchain technology?

• Cross-border payments

• Social networking

• Supply chain management

• Smart contracts

What does decentralization in blockchain enhance?

• Data storage capacity

• Security and reduces single points of failure

• User anonymity

• Transaction speed

What is the future outlook for blockchain technology?

• It will only be used for cryptocurrencies

• Ongoing research will address scalability and functionality

• It will remain stagnant

• It is expected to decline in use