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Bitcoin Blockchain Public and Private Key Demo Quiz

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Bitcoin Blockchain Public and Private Key Demo Quiz

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Questions and Answers

What is the purpose of a private key in Bitcoin blockchain technology?

To encrypt messages sent over the network

To verify the identity of the sender in a transaction

To decrypt messages received from the network

To generate a digital signature for transactions (correct)

In the context of Bitcoin, what is the function of a public key?

To encrypt sensitive information before sharing it

To create a secure connection between users

To secure the Bitcoin network against hacking attempts

To broadcast to the network for receiving funds (correct)

Why are public and private keys crucial components of Bitcoin transactions?

To ensure anonymity for all users on the blockchain

To increase the speed of mining new Bitcoins

To regulate the total supply of Bitcoins in circulation

To prevent any party from altering transaction details (correct)

What is the main purpose of using public and private keys in Bitcoin transactions?

To verify the identity of the sender and receiver (D) Signup and view all the answers

Which key is kept private by the user to ensure the security of their Bitcoin transactions?

Private key (A) Signup and view all the answers

In Bitcoin blockchain technology, what role does a public key play?

Serves as an address where others can send Bitcoins (D) Signup and view all the answers