Crypto-currency, smart contracts, application stack

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What is the main purpose of a master node in Dash cryptocurrency?

To mix coins and hide transaction records (correct)

To increase block generation time

To perform real-time transactions

To mine new coins

How does Dash achieve instant transactions?

By using smart contracts

By implementing proof-of-stake consensus

By increasing block generation time

By reducing block generation time to 1 second (correct)

What is a unique characteristic of blockchain application stacks compared to traditional software application stacks?

They do not involve smart contracts

They are not distributed across nodes

They are centralized in nature

They are decentralized and distributed (correct)

Who first proposed the concept of smart contracts?

Nick Szabo Signup and view all the answers

What is another term used to refer to a smart contract?

Self-executing language Signup and view all the answers

What is a dApp?

A software program designed to exist on the Internet not controlled by any single entity Signup and view all the answers

How do traditional websites interact with databases?

Front End → API → Database Signup and view all the answers

What technology is used in traditional web applications to render a page?

HTML, CSS, and Javascript Signup and view all the answers

What is the critical difference between dApps and traditional web applications in terms of database connection?

Smart Contracts connecting to a database Signup and view all the answers

What security failure is mentioned in the text related to dApps?

The DAO - digital decentralized autonomous organization Signup and view all the answers

What is the primary example of a blockchain application in the text?

Bitcoin Signup and view all the answers

Which term is used to describe cryptocurrencies alternative to Bitcoin?

Altcoin Signup and view all the answers

What makes it difficult for beginners and non-professionals to enter the Bitcoin market?

High competition Signup and view all the answers

Why are Bitcoin and other cryptocurrencies considered digital assets?

Absence of institutional framework such as regulation and oversight Signup and view all the answers

How are altcoins different from Bitcoin in terms of popularity?

Altcoins are less popular than Bitcoin Signup and view all the answers

When was LiteCoin released as an open-source client on GitHub?

October 7, 2011 Signup and view all the answers

What differs LiteCoin from Bitcoin primarily?

All of the above Signup and view all the answers

What is the primary advantage of clean bitcoins in the context of anonymous transactions?

They have no history linking ownership of the coins to specific wallet addresses Signup and view all the answers

What additional functions does Dash have compared to LiteCoin?

Anonymous transaction and instant transaction Signup and view all the answers

How do FPGA and ASIC devices for mining Litecoin compare to those for Bitcoin?

More complicated to create and more expensive to produce Signup and view all the answers

What is a crypto-currency?

A digital asset similar to fiat currency but lacking institutional regulation and oversight. Signup and view all the answers

What does the term 'altcoin' refer to?

Any cryptocurrency alternative to Bitcoin. Signup and view all the answers

Why is it difficult for beginners and non-professionals to enter the Bitcoin market?

The Bitcoin market is extremely competitive, making it expensive and challenging for newcomers to participate. Signup and view all the answers

What is the main advantage of altcoins compared to Bitcoin?

Altcoins provide alternatives to Bitcoin in the competitive cryptocurrency market. Signup and view all the answers

What is the primary example of a blockchain application provided in the text?

Bitcoin Signup and view all the answers

How are altcoins different from Bitcoin in terms of popularity?

Altcoins are less popular and widespread compared to Bitcoin. Signup and view all the answers

What is the main purpose of a master node in Dash cryptocurrency?

To hide transaction records by mixing coins Signup and view all the answers

Who first proposed the concept of smart contracts?

Nick Szabo Signup and view all the answers

What is the primary advantage of clean bitcoins in the context of anonymous transactions?

Enhanced anonymity Signup and view all the answers

What technology is used in traditional web applications to render a page?

Application stack Signup and view all the answers

How does Dash achieve instant transactions?

By reducing block generation time to 1 second Signup and view all the answers

How do FPGA and ASIC devices for mining Litecoin compare to those for Bitcoin?

They are less competitive and more accessible Signup and view all the answers

Who released LiteCoin as an open-source client on GitHub?

Charlie Lee Signup and view all the answers

What are the primary differences between LiteCoin and Bitcoin, as mentioned in the text?

<ol> <li>Decreased block generation time (2.5 minutes), 2) Increased maximum number of coins, 3) Different hashing algorithm (Scrypt instead of SHA-256)</li> </ol> Signup and view all the answers

What additional functions does Dash offer compared to LiteCoin?

Dash offers anonymous transactions and instant transactions. Signup and view all the answers

How do FPGA and ASIC devices for mining Litecoin differ from those for Bitcoin?

FPGA and ASIC devices for mining Litecoin are more complicated and expensive to produce than those for Bitcoin. Signup and view all the answers

Why are 'clean bitcoins' considered valuable in the context of anonymous transactions?

'Clean bitcoins' are valuable because they have no transaction history linking ownership to specific wallet addresses. Signup and view all the answers

What is the primary advantage of blockchain application stacks over traditional software application stacks?

Blockchain application stacks offer transparency and immutability compared to traditional software stacks. Signup and view all the answers

Explain the main difference between a traditional web application and a dApp in terms of database connection.

In a traditional web application, an API connects to a database. In a dApp, a Smart Contract connects to a blockchain. Signup and view all the answers

What technology is utilized by traditional web applications to render a page?

HTML, CSS, and Javascript. Signup and view all the answers

Define what a dApp is in relation to a 'blockchain enabled' website.

A dApp is a website where the front end interacts with a Smart Contract that connects to a blockchain. Signup and view all the answers

Explain the security failure mentioned in the text related to dApps.

The DAO was a digital decentralized autonomous organization that suffered a security failure. Signup and view all the answers

What type of software programs are designed to exist on the Internet without being controlled by a single entity?

dApps (decentralized applications). Signup and view all the answers

What type of network do traditional dApps like BitTorrent, Popcorn Time, BitMessage, and Tor run on?

P2P (Peer-to-Peer) network. Signup and view all the answers

What is the primary difference between decentralized applications (dApps) and traditional applications?

dApps are run on a P2P network of computers, while traditional applications run on a single computer. Signup and view all the answers

What are some issues commonly found in Ethereum smart contracts according to the text?

Ambiguities, easy but insecure constructs, compiler bugs, Ethereum Virtual Machine bugs, attacks on the blockchain network, and immutability of bugs. Signup and view all the answers

What is the main characteristic of blockchain application stacks that sets them apart from traditional software application stacks?

The blockchain application stacks are immutable, meaning once deployed, they cannot be easily changed. Signup and view all the answers

What are altcoins and how do they differ from Bitcoin in terms of popularity?

Altcoins are cryptocurrencies alternative to Bitcoin. They differ in popularity as they are not as widely recognized or adopted as Bitcoin. Signup and view all the answers

In the context of a smart contract example provided in the text, what does Alice agree to pay and to whom?

$1 to the account that will receive the highest amount in the next 10 blocks. Signup and view all the answers

What is the primary advantage of decentralized applications (dApps) over traditional applications?

Decentralized applications offer more transparency and resilience due to their P2P network setup. Signup and view all the answers

Crypto-currency, smart contracts, application stack

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Questions and Answers

What is the main purpose of a master node in Dash cryptocurrency?

How does Dash achieve instant transactions?

What is a unique characteristic of blockchain application stacks compared to traditional software application stacks?

Who first proposed the concept of smart contracts?

What is another term used to refer to a smart contract?

What is a dApp?

How do traditional websites interact with databases?

What technology is used in traditional web applications to render a page?

What is the critical difference between dApps and traditional web applications in terms of database connection?

What security failure is mentioned in the text related to dApps?

What is the primary example of a blockchain application in the text?

Which term is used to describe cryptocurrencies alternative to Bitcoin?

What makes it difficult for beginners and non-professionals to enter the Bitcoin market?

Why are Bitcoin and other cryptocurrencies considered digital assets?

How are altcoins different from Bitcoin in terms of popularity?

When was LiteCoin released as an open-source client on GitHub?

What differs LiteCoin from Bitcoin primarily?

What is the primary advantage of clean bitcoins in the context of anonymous transactions?

What additional functions does Dash have compared to LiteCoin?

How do FPGA and ASIC devices for mining Litecoin compare to those for Bitcoin?

What is a crypto-currency?

What does the term 'altcoin' refer to?

Why is it difficult for beginners and non-professionals to enter the Bitcoin market?

What is the main advantage of altcoins compared to Bitcoin?

What is the primary example of a blockchain application provided in the text?

How are altcoins different from Bitcoin in terms of popularity?

What is the main purpose of a master node in Dash cryptocurrency?

Who first proposed the concept of smart contracts?

What is the primary advantage of clean bitcoins in the context of anonymous transactions?

What technology is used in traditional web applications to render a page?

How does Dash achieve instant transactions?

How do FPGA and ASIC devices for mining Litecoin compare to those for Bitcoin?

Who released LiteCoin as an open-source client on GitHub?

What are the primary differences between LiteCoin and Bitcoin, as mentioned in the text?

What additional functions does Dash offer compared to LiteCoin?

How do FPGA and ASIC devices for mining Litecoin differ from those for Bitcoin?

Why are 'clean bitcoins' considered valuable in the context of anonymous transactions?

What is the primary advantage of blockchain application stacks over traditional software application stacks?

Explain the main difference between a traditional web application and a dApp in terms of database connection.

What technology is utilized by traditional web applications to render a page?

Define what a dApp is in relation to a 'blockchain enabled' website.

Explain the security failure mentioned in the text related to dApps.

What type of software programs are designed to exist on the Internet without being controlled by a single entity?

What type of network do traditional dApps like BitTorrent, Popcorn Time, BitMessage, and Tor run on?

What is the primary difference between decentralized applications (dApps) and traditional applications?

What are some issues commonly found in Ethereum smart contracts according to the text?

What is the main characteristic of blockchain application stacks that sets them apart from traditional software application stacks?

What are altcoins and how do they differ from Bitcoin in terms of popularity?

In the context of a smart contract example provided in the text, what does Alice agree to pay and to whom?

What is the primary advantage of decentralized applications (dApps) over traditional applications?

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