WorksheetsBlockchain Quiz
Total questions: 61
Worksheet time: 13mins
Name
Class
Date
1.
Which different types of networks did we cover in the lecture?
a)
Clustered network
b)
Centralized network
c)
Distributed network
d)
Decentralized network
2.
What is the goal of Proof of Work (PoW)?
a)
Securing the network through the use of cryptography
b)
Making the network anonymous
c)
Shows how a system may be protected or compromised
d)
To say which data is being written down by each miner
3.
What is the hash rate?
a)
Measure of the total energy spent by miners on Proof of Work
b)
Measure of the total hash rate produced by miners on Proof of Work
c)
Measure of the total miners that are included to find a hash value
4.
What is the main goal of bitcoin mining?
a)
Prevent double-spending of digital data
b)
Reduce transaction fees for a higher reward
c)
Support the technology development
5.
Complete the sentence: bitcoin transactions are … ?
a)
"routed"
b)
"sent"
c)
"converted"
6.
In the bitcoin network only final balances are written to the blockchain.
a)
True
b)
False
7.
In the lightning network you have to create invoices to sent the payment.
a)
True
b)
False
8.
What is the smallest amount you can send in the lightning network?
a)
One satoshi
b)
One millisatoshi
c)
One microsatoshi
d)
One sato
9.
What is NOT an advantage of the lightning network?
a)
Tiny fees
b)
Higher privacy
c)
Central regulation
d)
Nearly instant payments
10.
Which storage type should you use for the highest security standards?
a)
Hot storage
b)
Warm storage
c)
Cold storage
d)
Live storage
11.
What is NOT a part of the blockchain trilemma?
a)
Security
b)
Recoverability
c)
Scalability
d)
Decentralization
12.
You have a higher chance of beeing selected as a validator in the PoS model if … ?
a)
You already mined at least for 1 year
b)
The randomly selected node is located on another continent
c)
High amount of tokens in your deposit
d)
You have not been selected for 1 month
13.
Smart contracts are designed as self-enforcing contracts and create trustful protocols.
a)
True
b)
False
14.
Oracles are providing off-chain data for smart contracts.
a)
True
b)
False
15.
What types of oracles exist?
a)
Hardware oracles
b)
Software oracles
c)
Off-chain oracles
d)
Consensus-based oracles
16.
ERC20 is an technical standard used for smart contracts on the Bitcoin blockchain for … ?
a)
Creating transactions
b)
Creating tokens
c)
Creating nodes
d)
Creating blocks
17.
What are challenges for smart contracts and oracles?
a)
New programming languages
b)
Regulatory aspects
c)
No perfectly accepted and established standards
d)
Data security
18.
What is NOT an advantage of smart contracts?
a)
Automatic execution
b)
Cost-efficient
c)
Virtual presence
d)
Execution triggered by tokens
19.
Why is mining with traditional computers not profitable anymore?
a)
They are not optimzed for mining
b)
Too high electricity costs
c)
No reusage of waste heat
20.
What is NOT a building block of bitcoin?
a)
Game theory
b)
Hash functions
c)
NFTs
d)
Consensus mechanism (PoW)
21.
3rd highest market cap of cryptocurrencies?
a)
Cardona
b)
BNB
c)
Tether
d)
Ethereum
22.
Which statement is true?
a)
Blockchain is a currency
b)
Blockchains are connected via nodes
c)
Blockchains are the linked records of verified transactions
d)
Blockchains consist of Bitcoins
23.
Where are the most bitcoin nodes distributed?
a)
United States
b)
Europe
c)
Asia
d)
Rest of the world
24.
How many hashes per second is the bitcoin network processing?
a)
670 million GH/s
b)
260 million TH/s
c)
190 million TH/s
d)
120 million GH/s
25.
From what do the miners get their economic incentive?
a)
Block trigger
b)
Lottery payouts
c)
Block reward
d)
Blockchain fees
26.
Which categories of CBDCs exist?
a)
Wholesale CBDCs
b)
Account-based retail CBDCs
c)
Banking CBDCs
d)
Token-based retail CBDCs
27.
What are potential benefits of CBDCs?
a)
Faster and cheaper payments
b)
Increase in privacy
c)
Easier to reverse transactions
d)
Expands consumer access to the financial system
28.
CBDCs will likely be pegged to the corresponding country's fiat currency
a)
True
b)
False
29.
What is the purpose of bitcoin mining?
a)
Prevent double-spending
b)
Reduce transaction fees for a higher reward
c)
Support the technological development
d)
Receive natural resources
30.
What are factors for profitable mining?
a)
Type of hardware (ASIC)
b)
Climate of the region
c)
Electricity costs
d)
Network bandwidth
31.
How can the lightning network reduce the bitcoin transaction fees?
a)
Use of more powerful nodes
b)
Take transactions off the usual bitcoin blockchain
c)
Exchange of transactions only in the same country
d)
Use of cloud services
32.
In the Lightning Network the smallest amount sendable is a millisatoshi
a)
True
b)
False
33.
Cold storage is safer than hot storage
a)
True
b)
False
34.
Oracles provide off-chain data for smart contracts
a)
True
b)
False
35.
Which of the three Blockchain Trilemma factors does Ethereum fullfill?
a)
Decentralization and security
b)
Security and scalability
c)
Decentralization and scalability
d)
All three
36.
What is the gas cost in Ethereum?
a)
Amount of Ether needed to make a transaction
b)
Cost of conducting computational processes on the network
c)
Metric measuring the speed of transactions in the network
d)
Metric measuring the current usage of the network
37.
What is the gas price in Ethereum?
a)
Cost of conducting computational processes on the network
b)
Metric measuring the speed of transactions in the network
c)
Metric measuring the current usage of the network
d)
Amount of Ether for a unit of gas
38.
Why does using the Ethereum network cost gas?
a)
Incentive to implement clever code
b)
Taxes have to be paid
c)
Protects against network attacks
d)
The owner company makes its money that way
39.
Which consensus mechanism do Bitcoin & Ethereum currently use?
a)
Proof of work
b)
Proof of stake
c)
Proof of identity
d)
Proof of authority
40.
What is a smart contract?
a)
Automated, self-enforcing contract
b)
A well written agreement between two people
c)
A piece of software providing off-chain data
d)
A paper-based contract
41.
Are tokens programmable?
a)
Yes
b)
No
42.
How do coins differ from tokens?
a)
They include currency features
b)
They are physical
c)
They are backed by governments
d)
They run on stand-alone blockchains
43.
In non-custodial storage someone else keeps your private keys
a)
True
b)
False
44.
Which of the two keys can be used to access funds?
a)
Public
b)
Private
45.
Multisig wallets require several signatures to access funds
a)
True
b)
False
46.
What is a central bank digital currency (CBDC)?
a)
Bitcoin is the most prominent example
b)
Digital currency
c)
Issued and regulated by a central bank
d)
Issued and regulated by the community
47.
Which points apply to cold storage?
a)
Offline wallet
b)
Online wallet
c)
High security
d)
Good for large funds
48.
Which issues does Ethereum face?
a)
Clogged network
b)
Disk space
c)
Energy consumption
d)
Missing privacy
49.
Which of the following are non-fungable?
a)
Individualized tickets
b)
Art
c)
Fiat money
d)
Oil
50.
Like regular money, an unlimited amount of Bitcoin can be created
a)
True
b)
False
51.
On which Blockchain do NFTs typically exist?
a)
Dogecoin
b)
Bitcoin
c)
Ethereum
d)
Fungibility
52.
What can be represented through tokens?
a)
Loyalty points
b)
Software licenses
c)
Financial assets
d)
Fiat currencies
53.
What differentiates a centralized from a non-centralized exchange?
a)
DeEx require third-party supervision
b)
CeEx do not rely on a counterparty handling the transaction
c)
There are no differences
d)
DeEx do not rely on a counterparty handling the transaction
54.
Between which token types do regulators differentiate?
a)
Payment tokens
b)
Technical tokens
c)
Security tokens
d)
Utility tokens
55.
Which country was the first to adopt Bitcoin as a national currency?
a)
Brasil
b)
El Salvador
c)
Italy
d)
Switzerland
56.
Typically a smart contract can still be stopped after deployment
a)
True
b)
False
57.
What does Blockchain verification of NFTs establish?
a)
Fungability
b)
Digital scarcity
c)
Uniqueness
d)
Tangibility
58.
Assets that only exist on-chain as NFTs are refered to as…
a)
Off-Chain
b)
NFT-only
c)
Natively digital
d)
Unique
59.
NFTs can only exist on the Ethereum blockchain
a)
True
b)
False
60.
Does the owner of an NFT also always own the intellectual copy rights?
a)
Yes
b)
No
61.
What can you do in the Metaverse?
a)
Participate in virtual shows
b)
Own digital clothes and items
c)
Build digital houses
d)
Create digital businesses
100 %
