RNHS-CRYPT

What is the primary technology behind cryptocurrencies like Bitcoin?

• Blockchain

• Cloud Computing

• Quantum Computing

• Artificial Intelligence

Which of the following is a characteristic of blockchain technology?

• Centralized control

• Immutable ledger

• High latency

• Single point of failure

What is the purpose of a cryptographic hash function in blockchain?

• To encrypt data

• To create a unique identifier for data

• To generate random numbers

• To compress data

Which consensus algorithm is used by Bitcoin?

• Proof of Stake (PoS)

• Proof of Work (PoW)

• Delegated Proof of Stake (DPoS)

• Practical Byzantine Fault Tolerance (PBFT)

What is a smart contract?

• A legal agreement between two parties

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

• A contract that requires a lawyer to interpret

• A contract that can be modified by either party at any time

Which cryptocurrency introduced the concept of smart contracts?

• Bitcoin

• Litecoin

• Ethereum

• Ripple

What is the primary purpose of a cryptocurrency wallet?

• To store physical currency

• To store and manage digital assets

• To mine cryptocurrencies

• To trade cryptocurrencies on exchanges

Which of the following is NOT a type of cryptocurrency wallet?

• Hardware wallet

• Software wallet

• Paper wallet

• Cloud wallet

What is the role of miners in a blockchain network?

• To create new blocks and validate transactions

• To store data on the blockchain

• To provide internet connectivity

• To manage user accounts

Which of the following is a potential application of blockchain technology outside of cryptocurrencies?

• Supply chain management

• Social media

• Video streaming

• Online gaming