MTA Intro Session

What is the primary purpose of a blockchain mechanism?

• To allow unlimited access to transaction records by anyone.
• To provide a secure and decentralized method for recording transactions.
• To eliminate the need for any form of security in transactions.
• To create a centralized database for all transactions.

In Bitcoin, what is the smallest unit of currency called?

• Coin
• Satoshi
• Bit
• Block

Who created Bitcoin?

• Satoshi Nakamoto
• Vitalik Buterin
• Charlie Lee
• Roger Ver

What is the maximum supply of Bitcoin?

• 100 million
• 50 million
• 21 million
• 10 million

Who controls Bitcoin?

• A group of wealthy investors controls Bitcoin.
• A central bank controls Bitcoin.
• The government regulates Bitcoin directly.
• No single entity controls Bitcoin.

Is Bitcoin physical?

• Yes, Bitcoin is a physical currency.
• Bitcoin is a type of cash.
• Bitcoin can be held in your hand.
• No, Bitcoin is not physical.

What is the block time for Bitcoin (average time between blocks)?

• 5 minutes
• 15 minutes
• 30 minutes
• 10 minutes

What happens every 210,000 blocks in Bitcoin?

• The Bitcoin transaction fees are doubled.
• A new cryptocurrency is created.
• The Bitcoin block reward is halved.
• The mining difficulty is reduced.

Which of these is a key feature of Bitcoin?

• Centralized control by a single entity
• Decentralization and blockchain technology
• Use of physical currency for transactions
• Limited transaction speed and scalability

What is included in every Bitcoin block?

• A list of transactions, timestamp, previous block hash

• Wallet passwords

• A list of Bitcoin addresses
• A summary of network fees