- ATrue
- BFalse
Cryptocurrency - Quiz
- AFalse
- BTrue
- CSometimes yes
- AEthereum
- BR3 corda
- CHyperledger
- APoW
- BPoS
- CByzantine
- DAll of the options
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Quiz Analytics
Cryptocurrency - Quiz
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Time Taken: Questions: Answered: Not Answered:
Correct Answer:
Wrong Answer:
Percentage: %
- A. True
- B. False
Remarks:
Explanation:
False.
Cryptocurrency is not authorized in all countries. The legal status of cryptocurrency varies from country to country, with some countries accepting it as a legal form of payment, while others have banned or restricted its use. Some countries are still in the process of developing regulations to address cryptocurrency and its impact on financial systems. It is important to research and understand the regulations in your country before investing in or using cryptocurrency.
- A. False
- B. True
Remarks:
Explanation:
True.
Blocks are created in the blockchain network after consensus is achieved among network participants. Consensus is the process of verifying and validating transactions on the network to ensure they are accurate and legitimate. Once consensus is achieved, a new block is added to the blockchain, which contains a record of all the transactions that were verified during that particular period of time. This process is repeated continuously to create a chain of blocks that contain a complete history of all transactions on the network.
- A. False
- B. True
- C. Sometimes yes
Remarks:
Explanation:
True.
Hash is commonly used in the blockchain network to ensure the integrity of data. A hash function is a mathematical function that takes an input (data) and produces a fixed-size output (hash). This output is unique to the input data and any change in the input data will result in a different hash value. In the blockchain, each block contains a hash of the previous block in the chain, which creates an immutable record of all the previous transactions. This ensures that the data stored on the blockchain cannot be altered or tampered with, providing a high level of security and integrity to the network. Additionally, hash functions are used to verify the authenticity of digital signatures, which are used to ensure the identity of the sender and receiver in a transaction.
- A. False
- B. True
Remarks:
Explanation:
False
- A. True
- B. False
Remarks:
Explanation:
False. The value of coins, such as litecoin and bitcoin, may vary across different exchanges that actively trade them due to various factors such as demand, supply, trading volume, and market conditions.
- A. True
- B. False
Remarks:
Explanation:
True. Ethereum's native currency, Ether, provides greater flexibility than Bitcoin, as it allows developers to build and deploy smart contracts and decentralized applications (dApps) on the Ethereum blockchain.
- A. True
- B. False
Remarks:
Explanation:
True
- A. Ethereum
- B. R3 corda
- C. Hyperledger
Remarks:
Explanation:
R3 Corda is popularly known as DLT with a difference, as it is specifically designed for enterprise use cases, with a focus on privacy and interoperability between different organizations.
- A. PoW
- B. PoS
- C. Byzantine
- D. All of the options
Remarks:
Explanation: All of the options listed (PoW, PoS, Byzantine) are consensus algorithms.
- A. 16
- B. 5
- C. 4
- D. 8
Remarks:
Explanation:
One Bitcoin can be divided down to 8 decimal points. The smallest unit of Bitcoin is called a satoshi, which represents 0.00000001 BTC.