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Questions and Answers
What is the primary purpose of blockchain technology?
What is the primary purpose of blockchain technology?
- To create a new digital currency that can be easily counterfeited
- To provide a centralized system for managing financial transactions
- To facilitate secure transfer of digital assets without intermediaries (correct)
- To encrypt and store sensitive data on a single computer
What is the relationship between blockchain and Bitcoin?
What is the relationship between blockchain and Bitcoin?
- They are two completely unrelated technologies
- Bitcoin is the technology, and blockchain is the digital token
- Blockchain and Bitcoin are the same thing
- Blockchain is the underlying technology, and Bitcoin is a digital token built on it (correct)
Which of the following statements about blockchain is true?
Which of the following statements about blockchain is true?
- It is a centralized system owned by a single entity
- It is a technology separate from and unrelated to Bitcoin
- It is a shared and immutable ledger where all parties are accountable (correct)
- It is designed to allow easy alteration of data stored in the blocks
What is the purpose of the Genesis block in a blockchain?
What is the purpose of the Genesis block in a blockchain?
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Which of the following statements about blockchain blocks is false?
Which of the following statements about blockchain blocks is false?
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What is the primary advantage of using blockchain technology for transactions?
What is the primary advantage of using blockchain technology for transactions?
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Which of the following is not a typical component of a blockchain block?
Which of the following is not a typical component of a blockchain block?
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What is the primary reason for the immutability of blockchain data?
What is the primary reason for the immutability of blockchain data?
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Which of the following statements about blockchain is false?
Which of the following statements about blockchain is false?
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What is the primary advantage of using blockchain for digital contracts?
What is the primary advantage of using blockchain for digital contracts?
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