Blockchain Technology Concepts

The video explains blockchain technology, its structure, and security features. It covers the origin of blockchain, its components like blocks and hashes, and how it prevents tampering through proof-of-work and distributed networks. The video also discusses blockchain applications, including smart contracts and potential uses in various fields.

What was the original purpose of blockchain technology when it was first described in 1991?

• To manage peer-to-peer networks

• To timestamp digital documents

• To create a digital currency

• To store medical records

What is a unique feature of a block's hash in a blockchain?

• It is not necessary for security

• It can be easily changed

• It is the same for all blocks

• It acts like a fingerprint

What happens if you change the data in a block?

• The hash of the block remains the same

• The entire blockchain becomes invalid

• The hash of the block changes

• The block is automatically deleted

What is the purpose of the proof-of-work mechanism in a blockchain?

• To eliminate the need for hashes

• To slow down the creation of new blocks

• To make it easier to change block data

• To speed up the creation of new blocks

How does a blockchain achieve security through its structure?

• By linking blocks with hashes

• By allowing anyone to change the data

• By having a single copy of the blockchain

• By using a central authority

What is required to successfully tamper with a blockchain?

• Both B and C

• Controlling more than 50% of the network

• Recalculating the proof-of-work for all blocks

• Changing the data in one block

What role does a peer-to-peer network play in a blockchain?

• It eliminates the need for consensus

• It centralizes the control of the blockchain

• It allows nodes to verify and add new blocks

• It prevents new nodes from joining

What are smart contracts?

• Contracts that require manual execution

• Simple programs that execute automatically

• Physical contracts stored on a blockchain

• Programs that cannot be stored on a blockchain

Which of the following is NOT a potential application of blockchain technology?

• Collecting taxes

• Managing a centralized database

• Creating a digital notary

• Storing medical records

What is a recent development in blockchain technology?

• The creation of digital currencies

• The introduction of smart contracts

• The use of a central authority

• The elimination of hashes