Understanding Ethereum and Smart Contracts

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What vulnerabilities were exploited in the attack on The DAO in June 2016?

SQL injections

Buffer overflows

Cross-site scripting

Recursive calls (correct)

What was the value of the Ether gained by the user who attacked The DAO?

$25 million

$100 million

$50 million (correct)

$10 million

What was the holding period for the funds put into an account after The DAO attack?

14 days

7 days

28 days (correct)

60 days

Which type of system is discussed for applications with blockchain in the provided text?

Decentralized systems Signup and view all the answers

How do participants enter the lottery in a decentralized way according to the text?

By initiating cryptocurrency transactions to the smart contract Signup and view all the answers

What is the purpose of transparent bidding in the context of auctions?

To ensure fairness and visibility for all participants Signup and view all the answers

What is the first step in setting up a voting system using blockchain technology?

Enabling voter registration by allowing participants to create blockchain-based identities Signup and view all the answers

How does automating bid validation benefit auction processes?

It ensures fair and tamper-proof auction processes Signup and view all the answers

What is a key advantage of using smart contracts in auctions?

Efficient and automated processes Signup and view all the answers

How does blockchain voting ensure transparency and authenticity?

Using cryptographic signatures for voters to cast votes Signup and view all the answers

What is the role of decentralized validation in a blockchain-based voting system?

Preventing manipulation by having each node verify votes Signup and view all the answers

Why is immediate transaction settlement beneficial in auctions?

Provides quick and secure transfers of assets Signup and view all the answers

In a blockchain voting system, what does tokenizing voting rights mean?

Limiting each voter to a verifiable number of tokens based on eligibility Signup and view all the answers

What role does blockchain consensus play in creating a trustless environment in auctions?

Establishes trust by eliminating the need for a central authority Signup and view all the answers

Why is record keeping on the blockchain important in a voting system?

To provide an immutable and transparent ledger that can be audited Signup and view all the answers

What is the purpose of utilizing blockchain's pseudorandomness in lotteries?

To ensure fair and unpredictable winner selection Signup and view all the answers

How does recording lottery transactions on the blockchain help with auditability?

It provides an immutable record of all transactions Signup and view all the answers

What benefit do smart contracts bring to auctions?

Automating the entire auction process Signup and view all the answers

How does blockchain technology help establish a trustless environment in lotteries?

By enabling trust through blockchain consensus Signup and view all the answers

What does tokenizing auction items using blockchain tokens represent?

Ownership and transfer rights Signup and view all the answers

How are refunds handled if the funding goal is not met in a campaign?

Contributors need to request refunds. Signup and view all the answers

What function do users call to join the DAO and become members with voting power?

joinDAO Signup and view all the answers

How can members express support or opposition to proposals in the DAO?

By voting using the 'vote' function Signup and view all the answers

What happens if a proposal in the DAO receives enough support?

The proposal can be executed by the DAO. Signup and view all the answers

What is one of the functions of emitted events in the DAO process?

To track and understand activities in the DAO Signup and view all the answers

What is the main feature of Ethereum that allows smart contracts to run on a decentralized blockchain?

Ethereum Virtual Machine Signup and view all the answers

In a crowdfunding smart contract on Ethereum, what happens if the total funding reaches the goal set?

The contract transitions to the 'Successful' state Signup and view all the answers

Which feature of smart contracts in Ethereum ensures that transactions run exactly as programmed without interference?

Immutable Execution Signup and view all the answers

What happens to a crowdfunding smart contract in Ethereum if the deadline is reached and the funding goal is not met?

It transitions to the 'Expired' state Signup and view all the answers

Why are smart contracts in Ethereum considered to be resistant to downtime and third-party interference?

Self-execution based on programmed conditions Signup and view all the answers

What is the main method by which PoW achieves consensus?

Solving complex mathematical puzzles Signup and view all the answers

How is consensus achieved in a PoS system?

Through validators based on their stake in the network Signup and view all the answers

What is required for a successful 51% attack in a PoW system?

Having more computational power than the rest of the honest network combined Signup and view all the answers

How does the difficulty level change in PoW over time?

Adjusts to maintain a constant block generation time Signup and view all the answers

What factor influences the selection process of validators in PoS systems?

The amount of cryptocurrency they hold and are willing to stake Signup and view all the answers

What is essential for a successful 51% attack in a PoS system?

Acquiring a majority of the total cryptocurrency tokens Signup and view all the answers

In PoW, what does a miner need to do to add a new block to the blockchain?

Find a hash value that meets specific criteria Signup and view all the answers

How do validators in PoS take turns proposing and validating blocks?

Based on their cryptocurrency stake Signup and view all the answers

What is required for a successful 51% attack in a PoW system?

Gaining control of more than 50% of the total hash rate Signup and view all the answers

What does a 51% attack involve in a PoS system?

Acquiring a majority of the total cryptocurrency tokens. Signup and view all the answers

Understanding Ethereum and Smart Contracts

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Questions and Answers

What vulnerabilities were exploited in the attack on The DAO in June 2016?

What was the value of the Ether gained by the user who attacked The DAO?

What was the holding period for the funds put into an account after The DAO attack?

Which type of system is discussed for applications with blockchain in the provided text?

How do participants enter the lottery in a decentralized way according to the text?

What is the purpose of transparent bidding in the context of auctions?

What is the first step in setting up a voting system using blockchain technology?

How does automating bid validation benefit auction processes?

What is a key advantage of using smart contracts in auctions?

How does blockchain voting ensure transparency and authenticity?

What is the role of decentralized validation in a blockchain-based voting system?

Why is immediate transaction settlement beneficial in auctions?

In a blockchain voting system, what does tokenizing voting rights mean?

What role does blockchain consensus play in creating a trustless environment in auctions?

Why is record keeping on the blockchain important in a voting system?

What is the purpose of utilizing blockchain's pseudorandomness in lotteries?

How does recording lottery transactions on the blockchain help with auditability?

What benefit do smart contracts bring to auctions?

How does blockchain technology help establish a trustless environment in lotteries?

What does tokenizing auction items using blockchain tokens represent?

How are refunds handled if the funding goal is not met in a campaign?

What function do users call to join the DAO and become members with voting power?

How can members express support or opposition to proposals in the DAO?

What happens if a proposal in the DAO receives enough support?

What is one of the functions of emitted events in the DAO process?

What is the main feature of Ethereum that allows smart contracts to run on a decentralized blockchain?

In a crowdfunding smart contract on Ethereum, what happens if the total funding reaches the goal set?

Which feature of smart contracts in Ethereum ensures that transactions run exactly as programmed without interference?

What happens to a crowdfunding smart contract in Ethereum if the deadline is reached and the funding goal is not met?

Why are smart contracts in Ethereum considered to be resistant to downtime and third-party interference?

What is the main method by which PoW achieves consensus?

How is consensus achieved in a PoS system?

What is required for a successful 51% attack in a PoW system?

How does the difficulty level change in PoW over time?

What factor influences the selection process of validators in PoS systems?

What is essential for a successful 51% attack in a PoS system?

In PoW, what does a miner need to do to add a new block to the blockchain?

How do validators in PoS take turns proposing and validating blocks?

What is required for a successful 51% attack in a PoW system?

What does a 51% attack involve in a PoS system?

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