Blockchain Principles Quiz

What is provided through the implementation of technology in Blockchain?

• Trust

• Privacy

• Integrity

• Incentives

What ensures that every transaction in Blockchain is recorded?

• Centralized authority

• Blockchain network

• Smart contracts

• Public key encryption

Who are the participants that produce blocks in Blockchain?

• Nodes

• Miners

• Users

• Validators

What does decentralization in Blockchain mean?

• Data is controlled by one entity

• Data is distributed among nodes

• Data is encrypted only

• Data is stored in a single location

What does privacy in Blockchain imply?

• Data is stored in a central server

• Data is public for everyone

• Users control how data is handled

• Users have no control over data

What is a key feature of a trustless Blockchain?

• Requires trust in intermediaries

• Trust is established through contracts

• Trust is based on user identity

• Trust is inherent in technology

What is the primary focus of Blockchain technology?

• Data manipulation

• Ledger management

• User privacy

• Centralized control

What is the role of consensus in Blockchain?

• To encrypt data

• To centralize control

• To agree on transaction validity

• To delete transactions

What does immutability in Blockchain mean?

• Data is only accessible to administrators

• Data is stored in a central location

• Data cannot be deleted or altered

• Data can be easily modified

What is a characteristic of decentralized systems?

• Easier to govern

• Equal authority among nodes

• Controlled by one organization

• Single point of failure