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Questions and Answers
What is a blockchain?
What is a blockchain?
- A centralized database
- A decentralized, distributed ledger technology (correct)
- A type of cryptocurrency
- A programming language
Question 2:** Which of the following is NOT a characteristic of blockchain?
Question 2:** Which of the following is NOT a characteristic of blockchain?
- Immutable
- Transparent
- Centralized (correct)
- Secure
How are blocks linked together in a blockchain?
How are blocks linked together in a blockchain?
- Using a central server
- Through cryptographic hashes (correct)
- Via manual input by users
- By a third-party intermediary
Which type of blockchain is open to everyone and fully decentralized?
Which type of blockchain is open to everyone and fully decentralized?
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Who introduced the concept of Bitcoin and blockchain technology?
Who introduced the concept of Bitcoin and blockchain technology?
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What is a key advantage of blockchain's decentralized nature?
What is a key advantage of blockchain's decentralized nature?
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Which consensus mechanism involves miners solving complex mathematical puzzles?
Which consensus mechanism involves miners solving complex mathematical puzzles?
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What is a major drawback of the Proof of Work (PoW) consensus mechanism?
What is a major drawback of the Proof of Work (PoW) consensus mechanism?
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What is the role of a node in a blockchain network?
What is the role of a node in a blockchain network?
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Which blockchain platform introduced the concept of smart contracts?
Which blockchain platform introduced the concept of smart contracts?
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Study Notes
Blockchain Basics
- A blockchain is a decentralized, digital ledger that records transactions and data across multiple computers within a network
- It uses cryptography to secure and validate transactions, making it a secure way to conduct transactions and store data
- A blockchain consists of a chain of blocks, each containing data, and once data is written to a block, it cannot be altered or deleted
- The decentralized nature of blockchain technology allows for peer-to-peer transactions without the need for intermediaries
- Blockchain technology has applications beyond digital currency, including supply chain management, smart contracts, and secure data storage
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