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Questions and Answers
What is the maximum supply of bitcoins that can ever exist?
What is the maximum supply of bitcoins that can ever exist?
- 100 million
- 21 million (correct)
- 1 billion
- 50 million
What is the process called through which new bitcoins are created and transactions are added to the blockchain?
What is the process called through which new bitcoins are created and transactions are added to the blockchain?
- Minting
- Printing
- Mining (correct)
- Forging
Which cryptographic algorithm is used in bitcoin for secure transactions?
Which cryptographic algorithm is used in bitcoin for secure transactions?
- MD5
- SHA-256 (correct)
- RSA
- AES
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Study Notes
Bitcoin Basics
- The maximum supply of bitcoins that can ever exist is 21 million.
Bitcoin Creation and Blockchain
- The process of creating new bitcoins and adding transactions to the blockchain is called mining.
Bitcoin Security
- The cryptographic algorithm used in bitcoin for secure transactions is SHA-256.
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