Podcast
Questions and Answers
What is the fundamental principle that underpins blockchain technology?
What is the fundamental principle that underpins blockchain technology?
- Centralization
- Hierarchy
- Decentralization (correct)
- Authoritarianism
In a traditional centralized system, who usually holds the keys to all operations?
In a traditional centralized system, who usually holds the keys to all operations?
- A single entity or authority (correct)
- Corrupt individuals
- Every participant in the system
- The government
What could be a potential risk in a centralized system if the central authority becomes corrupt or fails?
What could be a potential risk in a centralized system if the central authority becomes corrupt or fails?
- Increased transparency
- Lost records and financial instability (correct)
- Enhanced security
- Improved efficiency
What role do participants play in maintaining and validating data in a decentralized system like blockchain?
What role do participants play in maintaining and validating data in a decentralized system like blockchain?
How do consensus mechanisms work in the blockchain network?
How do consensus mechanisms work in the blockchain network?
What does the consensus mechanism do in a blockchain network?
What does the consensus mechanism do in a blockchain network?
What is the main goal of both proof of work and proof of stake in a blockchain network?
What is the main goal of both proof of work and proof of stake in a blockchain network?
How do cryptographic hash functions contribute to the security of a blockchain network?
How do cryptographic hash functions contribute to the security of a blockchain network?
Why are hash functions considered integral to fortifying the immutability of a blockchain ledger?
Why are hash functions considered integral to fortifying the immutability of a blockchain ledger?
In what way do cryptographic hash functions resemble fingerprints in a blockchain?
In what way do cryptographic hash functions resemble fingerprints in a blockchain?
