10 Questions
What is a primary characteristic of blockchain technology?
High transparency and security
Which method is more energy-efficient in blockchain technology?
Proof of Stake
What is the process of mining in blockchain technology?
Using computer power to solve complex mathematical problems
In a trustless environment created by blockchain, what is not required?
Parties need to know each other
What is the definition of blockchain technology?
A decentralized system with copies of the ledger on multiple computers
What is the process involved in Proof of Work?
Solving complex puzzles to validate transactions
What happens once data is recorded in the blockchain?
It becomes immutable
What is the purpose of smart contracts in blockchain technology?
Automating transactions based on predefined conditions
How are miners rewarded in blockchain technology?
With cryptocurrency for successfully validating a new block
What ensures the security of transactions in blockchain technology?
Each transaction is encrypted and linked to the previous one
Learn the basics of blockchain technology with this quiz covering the definition of blockchain as a distributed database, its transparency, decentralization, and how it functions without a central authority. Test your knowledge on the fundamental concepts of blockchain.
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