CBBF Exam Guide

A block can be compared to _____________.

A piece of paper

Only ___________ of data can be made on or to the blockchain

Additions

What function does a blockchain preform that a database does not?

All of the above (fully distributed highly fault tolerant, no centralized authority, low barrier to entry, global transaction capabilities, no double spending)

Which is a type of data that can be stored on a blockchain?

All of the above (medical records, ownership of a tangible asset, training certificates)

Bitcoin is a/an _______ that runs on blockchain.

Application

The network is designed so that if some peers crash or attack the network maliciously, the network can still operate; this is known as ____________.

Byzantine fault tolerance

One of the advantages of a distributed network is many nodes or peers that are connected in a network create no single point of failure or ________________ control.

Centralized

Smart Contracts are ________________.

Computer code

Nodes running on a blockchain must have _________ on ALL data stored

Consensus

Control is enabled through ____________.

Cryptography

Blocks store ___________.

Digital data

When considering a permissioned vs permission-less blockchain it is important to ask: are all participants ________?

Equal

In blockchain, __________ has/have a copy of the ledger.

Everyone

Any blockchain solution must be either public or private.

False

Blockchain is a great solution because it still utilizes the functionality and need for intermediaries. T/F?

False

Blockchain is always the solution.

False

Due to the invention of Distributed and Decentralized solutions there is no longer a need for centralized solutions. T/F?

False

New Blockchain Networks are failing to evolve and improve upon the original creation of blockchain

False

Proof of Stake is the most mature consensus mechanism.

False

The blockchain provides a snapshot of the current state.

False

What is an obvious way a blockchain solution can deliver a customer value?

Financial incentives

Blockchain is the underlying __________ software that manages and controls the bitcoin network

Security

______________ running on a blockchain allow actions to be taken on events/transactions

Smart contracts

If the upgrade is backward compatible, it is a _______________.

Soft fork

With proof of stake no "computing" is ever preformed only _____________.

Staking wagering

Web 1.0 is considered the Internet of ___________.

Static information

The connection between blocks means that the Blockchain is much more ____________ than a standard database.

Tamper proof

Blockchain is more secure than a traditional database because ____________.

There is no single point of failure

Which is NOT a quality of a decentralized solution architecture?

There is no single truth

Each block contains the hash of ____________________.

The previous block

Blockchain investments are extending to the _________________ countries and _______________ areas of the world quickly, providing a way to do personal business, as well as commerce.

underdeveloped; underbanked

Web 3.0 brought us the internet of ______________.

value

Web 2.0 brought us ______________.

web surfing

When looking at open vs closed blockchains it is important to look at who can ________ data from the blockchain.

Read

New transactions are broadcast and _______________by the network

Recorded

If everyone has a copy of the blockchain, when queried, everyone gets the ________________.

Same answer

All nodes have and share the ___________ copy of the ledger.

Same exact

The white paper that was released outlining Bitcoin was created by ______________.

Satoshi Nakamoto

What year was the first Bitcoin block created?

2009

It is estimated that nearly ______% of global airbags sold and installed are counterfeit

30

According to a Juniper market research survey in 2017, Blockchain (DLT) is being considered by more than ______% of the world's big corporations

50

With Proof of Work, when ____________% of the miners confirm the nonce is correct, the transaction is added to the Blockchain.

51

____________ is a function for encoding or encrypting data to protect the contents from adversaries

A cryptographic function

__________ is the unit in which Ethereum Virtual Machine (EVM) resource usage is measured.

Gas

If the upgrade isn't backward compatible, it is a ________________.

Hard fork

The Block ID is the _______of the data on the block, and the ________ of that block.

Hash; digital fingerprint

The number of a block is the ______________ of the block.

Height

Public Key Cryptography provides ___________ and transaction approval.

Identity

Blockchain is primarily defined as a shared ______ ledger

Immutable

Hashing is beneficial because it allows us to _______________.

Instantly compare two or more large volumes of data to ensure they are the same

Which of the following use case implications is NOT a reason to explore a blockchain solution?

Intermediaries are wanted

____________verify the digital signature of a given key pair.

Public keys

One of the benefits of blockchain is that data can be _________.

Publicly verifiable

Which of the following is NOT a quality of Bitcoin?

It makes identity known

Smart contracts perform all of the below except ____________.

Make cognitive decisions

Blockchain transcends all physical and geographical barriers and uses _________ and _____________ to enable transactions globally.

Math; cryptography

With proof of work, when a block is full, each node competes to solve and guess the _________.

Nonce

Which of the following industries is NOT implementing or exploring blockchain solutions

None of the above (Healthcare, land registries, financial services, supply chain)

Which is NOT a drawback of implementing a blockchain solution?

None of the above (a lack of trained resources and talent, scalability, new and constantly changing technology, transaction speeds, cost)

Cryptography can be used to address the issue of __________.

Privacy

______________sign/approve any transaction/action that might be made by the holder of the key pair.

Private keys

Types of consensus include all EXCEPT _______________.

Proof of output

Blockchain today has been likened to __________.

The internet

The blockchain is a ledger - it records the ___________ of assets between people or entities

Transfer

Blockchain as a ledger can best be described as a ____________ entry ledger

Triple

Blockchain has the potential to affect nearly every industry in some way.

True

Blockchain is a great solution for tracking the origin of items and ensuring a certain level of quality exist. T/F?

True

Blockchain is moving very fast, but we still have a lot to learn and new opportunities exist on many levels

True

Data CANNOT be changed once it is committed to a blockchain, T/F?

True

Digital Identity is an extremely exciting use case for most blockchain enthusiasts

True

Upgrades to the protocol can cause problems - but can be managed.

True

With a decentralized ledger no one has to __________anyone else.

Trust

Ethereum provides a decentralized ________ virtual machine, which can execute computer programs using a global network of nodes.

Turing complete

The internet brought us the age of information, and Blockchain is bringing us the internet of _______.

Value

Which is not a technology used to create blockchain?

Wifi

When looking at public vs private blockchains it is important to look at who can ___________ data to the blockchain.

Write

The uniqueness of blockchain lies in its capacity to store and retain __________________ transactional history so that chances of fraud, hacking, and third-party interference are greatly reduced.

person to person