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Blockchain Distributed Data Store Quiz

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Questions and Answers

What is the purpose of the cryptographic hash in a blockchain?

To represent the transaction data in a compact form

To encrypt the data in each block

To verify the timestamp of each block

To link the current block to the previous block (correct)

Why are blockchain transactions considered irreversible?

Because the transactions are verified by a central authority

Because the data in a block cannot be altered without changing all subsequent blocks (correct)

Because the transactions are encrypted using cryptographic hashes

Because the transactions are stored in a distributed ledger

What is the primary role of the peer-to-peer (P2P) computer network in a blockchain?

To store the entire blockchain on each node

To manage the distributed ledger and validate new blocks (correct)

To generate the cryptographic hashes for each block

To encrypt the transaction data

What is the significance of blockchain forks?

They demonstrate that blockchain records are not unalterable Signup and view all the answers

Who created the first blockchain for Bitcoin cryptocurrency transactions?

A person (or group) using the name Satoshi Nakamoto Signup and view all the answers

What was the key innovation of the blockchain implementation within bitcoin?

It solved the double-spending problem without the need for a trusted authority or central server. Signup and view all the answers

Which of the following statements about private blockchains is true?

The marketing of private blockchains without a proper security model has been criticized as 'snake oil'. Signup and view all the answers

Who first proposed the concept of a blockchain-like protocol?

Cryptographer David Chaum Signup and view all the answers

What was the significance of incorporating Merkle trees into the blockchain design?

It improved the efficiency of the system by allowing several document certificates to be collected into one block. Signup and view all the answers

What was the key contribution of Satoshi Nakamoto to the blockchain design?

All of the above. Signup and view all the answers