Blockchain Security Threats
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Questions and Answers

What is the primary requirement for updating a blockchain?

  • Using a central authority to control the network
  • Reaching a consensus among a majority of nodes
  • Creating a large number of pseudonymous identities
  • Validating against strict criteria defined by the blockchain protocol (correct)

    • What is the main goal of decentralization in blockchain?

  • To increase the control of top management
  • To reduce the efficiency of the system
  • To create a large number of pseudonymous identities
  • To distribute control and authority to the peripheries (correct)

    • What is a 51% attack in blockchain?

  • An attack on a computer network using a large number of pseudonymous identities
  • A type of cryptographic security mechanism
  • When an attacker has the majority of 'votes' that can decide which chain counts as truth (correct)
  • A type of decentralized system where nodes are under the control of a single authority

    • What is the benefit of decentralization in terms of decision making?

    <p>Expedited decision making</p> Signup and view all the answers

    What is the primary challenge that a Sybil attack poses to blockchain?

    <p>It can pull off a 51% attack</p> Signup and view all the answers

    What is the characteristic of a decentralized system in blockchain?

    <p>Control and authority are distributed to the peripheries</p> Signup and view all the answers

    What is the primary goal of the PoW algorithm in a blockchain network?

    <p>To prevent Sybil attacks</p> Signup and view all the answers

    What is the purpose of the 'nonce' value in the PoW equation?

    <p>To find a number that meets the difficulty target</p> Signup and view all the answers

    What is the 'Partial hash inversion problem' in the context of PoW?

    <p>A computational problem to find a hash less than the target value</p> Signup and view all the answers

    What is the analogy used to describe the PoW mechanism in the Bitcoin Network?

    <p>Miners are like gamblers in a casino</p> Signup and view all the answers

    What is the purpose of the 'target network difficulty value' in the PoW equation?

    <p>To control the rate of block creation</p> Signup and view all the answers

    What is the security implication of the PoW mechanism?

    <p>It makes the blockchain resistant to collusion attacks</p> Signup and view all the answers

    What is a key benefit of a longer blockchain?

    <p>It becomes safer and more secure</p> Signup and view all the answers

    What is a key principle related to personal data and privacy in blockchain?

    <p>Individuals should control their own data and decide what to share</p> Signup and view all the answers

    Why is the Bitcoin blockchain considered significant?

    <p>It is the largest civilian deployment of PKI in the world</p> Signup and view all the answers

    What was a major concern that led to the development of secure data protection?

    <p>Data breaching incidents in financial firms</p> Signup and view all the answers

    What is a benefit of blockchain protocols?

    <p>They allow users to choose their desired privacy level</p> Signup and view all the answers

    What is the relationship between blockchain length and security?

    <p>A longer blockchain is more secure</p> Signup and view all the answers

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