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Questions and Answers
Which of the following statements about Bitcoin is true?
Which of the following statements about Bitcoin is true?
- Bitcoin transactions are not transparent
- Bitcoin uses a blockchain to record transactions (correct)
- Bitcoin is controlled by a central authority
- Bitcoin users cannot choose how to make transactions
What is the purpose of the blockchain in the Bitcoin system?
What is the purpose of the blockchain in the Bitcoin system?
- To control and regulate Bitcoin transactions
- To record and validate Bitcoin transactions (correct)
- To prevent corruption in financial exchanges
- To eliminate the need for a middleman
Why is it impossible to steal or spend the same Bitcoin currency twice?
Why is it impossible to steal or spend the same Bitcoin currency twice?
- Because the blockchain prevents duplicate transactions (correct)
- Because Bitcoin users cannot control their own money
- Because Bitcoin transactions are not transparent
- Because Bitcoin is controlled by a central authority
What does it mean for the Bitcoin system to be decentralized?
What does it mean for the Bitcoin system to be decentralized?
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What options do Bitcoin users have when making transactions?
What options do Bitcoin users have when making transactions?
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