Blockchain Exam

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Q.1 Which of the following is NOT a reason why tokens stored on a blockchain represent value to their owners ?*

The tokens give the owner voting rights for proposed changes to the blockchain (Governance).

The tokens are used to identify something or someone in a unique way. In this case the token can have a different value depending upon what it is identifying.

The tokens keep the same value as that of Gold. Hence it is called 'Digital Gold'.

The tokens represent a form of crypto-currency which can be used as an alternative to traditional (fiat) money.

Q.2 The root layer (layer 1) in Blockchain Architecture is called the Consensus Layer*

True

False

Q.3 What are miners NOT responsible for?*

To give the reward

To confirm the transaction

To verify the input & output of the transaction

To add a Block

Q.4 What is the purpose of a nonce?*

Communicate information to the nodes

None of these

A hash function

Prevents double spending

Q.5 Which of the following is NOT a benefit of Blockchain?*

High Security

Low Energy Consumption

Immutability

Transparency

Q.6 What is Proof of Stake?*

A certificate required to use the Blockchain.

A password needed to confirm the transactions.

Algorithm to generate private keys.

A transaction and block verification protocol.

Q.7 What is Hashrate?*

Number of times a Cryptographic hash generated by miner's computer in a second

A miner's machine's frequency

A difficulty level encoded in Blockchain client

Total computation power of the Blockchain network

Q.8 Who validate the blocks in Delegated Proof of Stake (DPoS)?*

Witnesses, voted upon by Stakeholders.

Miners

Participants

Anyone who connects to the Blockchain

Q.9 What type of architecture defines a Blockchain?*

Single central authority

Matrixed

Centralised

Distributed peer to peer

Q.10 What information does the Header of a Block contain?*

Hash of previous block

Timestamp

Merkle Root hash of all transaction hashes

All of these

Q.11 Which of the following is NOT a threat to blockchains?*

Trojan

Worm

None of these

Identity Theft

Q.12 Which of the following Blockchain Platforms do not support a native currency?*

Ethereum

Hyperledger

All of these

Bitcoin

Q.13 All blockchains use either Proof of Work (PoW) or Proof of State (PoS) consensus algorithms*

True

False

Q.14 What is cold storage in the context of Blockchains and Cryprocurrency?*

A cryogenic chamber used to cool GPU processors.

Blockchain database schema.

A private key stored on a medium connected to internet.

A private key stored on a medium not connected to internet.

Q.15 Which language is used to create smart contracts on Ethereum?*

Solidity

Python

Javascript

Q.16 What is a genesis Block?*

The first block after each block halving

The first block of a Blockchain.

The largest block on a Blockchain.

The block at which a hard fork occurs on a Blockchain.

Q.17 Which of the following is NOT a good use cases for a Non-Fungible Token (NFT)?*

Real Estate proof of ownership

Digital Art

Digital Music

Stable Coins

Q.18 Ripple (XRP) is a blockchain platform designed for global payment solutions between financial institutions.*

True

False

Q.19 What is the name of the hashing algorithm used in Bitcoin?*

SHA-512

SHA-256

Whirpool

MD5

Q.20 What is the main advantage of the Ethereum blockchain over the Bitcoin Blockchain?*

The Ethereum blockchain has greater value the Bitcoin blockchain

The Ethereum blockchain is more secure than the Bitcoin blockchain

The Ethereum blockchain is programmable and can store and execute logic.

Ethereum charges lower transaction fees than Bitcoin

Q.21 What are Smart Contracts?*

A digital version of a legal contract that is stored on a blockchain

A blockchain based user agreement required in order to use a Blockchain

A contract which is more intelligent than traditional contract

An easy to enforce contract

Q.22 What is NOT a part of the Blockchain ecosystem?*

Harmonized Convergence Protocol (HCP)

Segregated Witness processes (SegWit)

Decentralized Autonomous Organizations (DAOs).

Decentralized cryptocurrency exchanges (DEX)

Q.23 Which of the following to true about 'hashing' of data to create a block identification ? *

The hash can be reversed and the original date revealed

Some blockchains do not use hashing

The primary use of hashing in blockchain technology is for the generation of public and private keys.

Q.24 What is a miner in the context of a Blockchain?*

A person who trades cryptocurrency using an online exchange

An algorithm that makes blockchains secure by a process of hashing.

A smart contract that enables the exchange of one cryptocurrency for another without using centralized intermediaries.

A computer that validates and processes Blockchain transactions and builds the blocks in a blockchain.

Q.25 What is an Atomic Swap?*

A method used to ensure the security of blockchains

A smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries

The movement of tokens from one Blockchain to another

The smallest unit that Ethereum can be split into

Q.26 What is the name given when a Blockchain splits into 2 different versions?*

A transition

A sidechain

A division

A fork

Q.27 What is the best definition of a Blockchain?*

An Internet Application

A Distributed Database or Ledger

Communication Network

A Banking Application

Q.28 The Lightening Network (on Bitcoin) and Polygon (on Ethereum) are both examples of Layer 2 solutions.*

True

False

Q.29 A blockchain address collision happens when 2 different transactions are made at the same time to the same address.*

True

False

Q.30 Which of these is NOT a necessary component of a Blockchain Transaction?*

The time the transaction occurs

An Identifier of the block address of the receiver of the transaction

The name of the person or company making the transaction

An Identifier of the block address of the sender of the transaction

Q. 31 What is a UTXO?*

United Technology Output

Unspent Technology Operations

United Transaction Operations

Unspent Transaction Output

Q. 32 What is the first step when choosing the correct Blockchain solution?*

Designing the User Interface

Fully understanding the Use Case

Defining the type of Blockchain to use ( Ethereum, Hyperledger, Corda R3 etc)

Deciding on the token or coin that will be used

Q. 33 Cryptographic hashing transforms a length of text and/or numbers into a string of alpha-numeric characters that acts as a digital fingerprint for the original text/numbers.*

True

False

Q. 34 Orphan blocks are created only when a 51% attack occurs on the Blockchain?*

True

False

Q. 35 Which of the following is NOT a part of asymmetric encryption?*

Public Keys

Pass Phrases

Mining algorithms

Private Keys

Q. 36 Merkel Tree Hashes and Transactions are part of which layer of Blockchain architecture?*

Application Layer

Data Layer

Consensus Layer

Network Layer

Q. 37 A method of splitting and storing a single logical dataset into multiple datasets to enable faster transactions is called ___________. *

Halving

Sharding

Sharpening

Distributing

Q. 38 Which of the following is NOT a good use case for Blockchain technology?*

Identity and Nationality verification

Storing personal login names with passwords

Preventing copyright violations for music and art

Tracking of goods in a supply chain

Q. 39 A private key on a Public Blockchain can be recovered if all the miners agree to it*

True

False

Q. 40 Which is NOT an Ethereum Token Standard?*

ERC-523

ERC-20

ERC-721

ERC-223

Q. 41 How can blockchain technology help in the field of pension funds?*

Keep an immutable record of all payments into the pension fund.

Automate the full life-cycle of pension fund transactions

All of the other answers are correct

Automate the pension fund settlement process using smart contracts.

Q. 42 Decentralized Finance (DeFi) refers to which of the following? *

Financial services using Bitcoin as the main form of payment

Financial services using smart contracts on Blockchains that don’t need intermediaries like a bank or lawyers.

The ability to buy and sell cryptocurrency through an online exchange such as Binance.

Online Banking services

Q. 43 P2P stands for*

Public to Private

Public to Public

Peer to Peer

Private to Private

Q. 44 What is the best definition of a 'Token' when applied to Blockchain technology?*

Digital money that can be exchanged for dollars.

A digital asset stored in a unique blockchain address that represents something of value.

A digital credit that is given in exchange for Proof of Work (PoW) being done.

The smallest unit of Bitcoin that can be traded.

Q. 45 A multi-national corporate enterprise is asking for advice on which blockchain solution to consider for connecting data from its suppliers and customers into one distributed network for better sharing of data. What is the best suggestion from the following choices ?*

Hyperledger Fabric, r3 Corda or Quorum

Bitcoin or Ethereum

Coinbase or Binance

Apple or Microsoft

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