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Questions and Answers
What is the primary function of a cryptocurrency wallet?
What is the primary function of a cryptocurrency wallet?
Which cryptocurrency is known for introducing smart contracts and decentralized applications (DApps)?
Which cryptocurrency is known for introducing smart contracts and decentralized applications (DApps)?
What consensus mechanism is primarily used by the Bitcoin blockchain?
What consensus mechanism is primarily used by the Bitcoin blockchain?
What distinguishes public blockchains from private blockchains?
What distinguishes public blockchains from private blockchains?
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Which cryptocurrency is often referred to as "digital gold" and was created by an anonymous individual or group known as Satoshi Nakamoto?
Which cryptocurrency is often referred to as "digital gold" and was created by an anonymous individual or group known as Satoshi Nakamoto?
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What is the main purpose of a consensus mechanism in a blockchain network?
What is the main purpose of a consensus mechanism in a blockchain network?
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Which cryptographic technique ensures the integrity and uniqueness of data stored on a blockchain?
Which cryptographic technique ensures the integrity and uniqueness of data stored on a blockchain?
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What distinguishes Proof of Work (PoW) from Proof of Stake (PoS) as consensus mechanisms?
What distinguishes Proof of Work (PoW) from Proof of Stake (PoS) as consensus mechanisms?
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What role do miners play in a Proof of Work (PoW) blockchain network?
What role do miners play in a Proof of Work (PoW) blockchain network?
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Which blockchain platform is known for its focus on security, scalability, and sustainability, aiming to provide a secure infrastructure for the development of DApps and smart contracts?
Which blockchain platform is known for its focus on security, scalability, and sustainability, aiming to provide a secure infrastructure for the development of DApps and smart contracts?
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Study Notes
Cryptocurrency Wallets
- The primary function of a cryptocurrency wallet is to store, send, and receive cryptocurrencies.
Notable Cryptocurrencies
- Ethereum is known for introducing smart contracts and decentralized applications (DApps).
- Bitcoin, often referred to as "digital gold", was created by an anonymous individual or group known as Satoshi Nakamoto.
Blockchain Consensus Mechanisms
- The primary consensus mechanism used by the Bitcoin blockchain is Proof of Work (PoW).
- The main purpose of a consensus mechanism in a blockchain network is to ensure the integrity and validity of transactions, and to achieve agreement among nodes on the state of the blockchain.
Blockchain Security
- The cryptographic technique that ensures the integrity and uniqueness of data stored on a blockchain is hashing.
Consensus Mechanism Comparison
- The key difference between Proof of Work (PoW) and Proof of Stake (PoS) as consensus mechanisms is the way in which nodes validate transactions and create new blocks.
Blockchain Node Roles
- In a Proof of Work (PoW) blockchain network, miners play a crucial role in validating transactions, creating new blocks, and maintaining the integrity of the blockchain.
Blockchain Platforms
- The Cardano blockchain platform is known for its focus on security, scalability, and sustainability, aiming to provide a secure infrastructure for the development of DApps and smart contracts.
Blockchain Types
- The key difference between public blockchains and private blockchains is that public blockchains are open to anyone and transparent, while private blockchains are restricted to a specific group or organization and are not transparent.
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