WorksheetsFintech - Blockchain
Total questions: 8
Worksheet time: 5mins
The following is NOT a characteristic of the Distributed Ledger
All nodes have access to the entire history
A single party controls access to the information
Every party can verify the records of its transaction
All nodes have access to the entire database
A Blockchain allows for... (Select ALL that apply!)
Peer-to-Peer transmission of information
Transparency with pseudo-anonymity
Irreversibility of Records
Faster transactions than traditional credit cards
According to the reading, the following is a Transformative application of the blockchain
Bitcoin-based giftcards
Bitcoin payments
Smart contracts
Private ledgers
In Proof-of-Stake, the fourth innovation of the blockchain technology, transaction validators are chosen _____ and it provides ______ (choose two)
at random given ownership of coins
by a competitive process
faster transactions vs Proof-of-Work
more secure transactions vs Proof-of-Work
What are some key differences between the blockchain and the early-internet growth? (select two)
Much less resources were available in the early internet
The early internet was non-commercial
There was no hype surrounding the early internet
Blockchain is much more secure
The following is TRUE about bitcoin
It is environmentally friendly
It exchanges energy by currency
It cannot be hacked
It is fast
Which one is NOT a factor useful to decide on a blockchain-enhanced business model?
Level of damage if data is corrupted
Incentives to distort the data in the ledger
User trust in the data
Number of expected transactions
The following are weaknesses of the blockchain technology (select all that apply)
Vulnerability to a single entity controlling many nodes
Weak encryption
No way to recover private data
Distributed data
