Quiz on Module 1

What is a key characteristic of Blockchain technology?

• It is controlled by a single entity

• It allows for peer-to-peer transactions

• It requires a central server

• It is only used for cryptocurrencies

Who is known as the father of Blockchain Technology (Bitcoin)?

• Vitalik Buterin

• Hal Finney

• Satoshi Nakamoto

• Nick Szabo

What is a key benefit of using blockchain technology in decentralized applications?

• Enhanced security

• Faster transaction speeds

• Lower costs

• All of the above

Which of the following is a feature of blockchain?

• Security

• Transparency

• All of the above

• Immutability

Which Consensus algorithm is commonly used in Blockchain?

• All of the above

• Delegated Proof of Stake

• Proof of Stake

• Proof of Work

What is a common use case for smart contracts?

• Automating legal agreements

• None of the above

• Creating social media platforms

• Storing personal data

Which of the following best describes the type of Public blockchain ?

• Only for private transactions

• Requires permission to join

• Restricted to certain users

• Accessible to anyone

What is the role of miners in a blockchain network?

• All of the above

• To validate transactions

• To create new cryptocurrencies

• To maintain network security

Aanya is managing a supply chain for her organic food company. What is a common benefit of using blockchain technology in supply chain management?

• Limited access to data

• Slower transactions

• Enhanced traceability

• Increased costs

Which of the following is a disadvantage of using blockchain technology?

• Decentralization

• Enhanced security

• Increased transparency

• Scalability