Bitcoin Knowledge Quiz

What is the main goal of the Proof of Work (PoW) mechanism in Bitcoin?

• To create new wallet addresses

• To ensure private key security

• To prevent spam emails

• To achieve decentralized consensus

What does a Bitcoin wallet primarily store?

• Bitcoin coins

• Blockchain data

• Private keys

• Miner IDs

How often is the Bitcoin block reward halved?

• Every 100,000 blocks

• Every 210,000 blocks

• Every year

• Every transaction

What is the unit used to measure computational power in Bitcoin mining?

• Watts

• GHz

• Hashes per second

• Gas units

Which of the following prevents double spending in Bitcoin?

• Wallet encryption

• Blockchain confirmations

• IP address verification

• QR codes

Which algorithm does Bitcoin use for its hashing function?

• MD5

• SHA-1

• SHA-256

• AES

What is the role of the nonce in Bitcoin mining?

• To identify users

• To sign transactions

• To adjust the hash output

• To store wallet balance

Which component ensures that Bitcoin blocks are added approximately every 10 minutes?

• Gas fee adjustment

• Proof-of-Stake

• Difficulty adjustment

• Blockchain pruning

Which of the following is a scripting language used in Bitcoin transactions?

• Solidity

• BitcoinScript

• JavaScript

• Golang

What happens when a miner solves the PoW puzzle?

• The miner is removed from the network

• The transaction is reversed

• The block is added to the blockchain

• The user receives Ether