General Blockchain Quiz

What time did Bitcoin Network Start? January 2009 September 2001 November 2008

January 2009

What does a ledger in blockchain do? Mapping between owner and object Identification of objects owned Identification of owners

Mapping between owner and object

What is the process of creating new bitcoins popularly known as? Finding Panning Sourcing Mining

Mining

Which is NOT a part of asymmetric encryption? Mining Public key Passphrase Private Key

Mining

Which of the following is a now-defunct Bitcoin exchange? Bit Box Mt Fox Mt Gox Ft Nox

Mt Gox

What is the name of the famous Bitcoin exchange from Japan that collapsed in 2014? Blockchain.info Tradehill Mt. Gox Bitstamp

Mt. Gox

When a record is on a blockchain, who can access it? Multiple people simultaneously. One person at a time. Only the people involved in the transaction.

Multiple people simultaneously.

Which of these US states introduced the BitLicense regulation for cryptocurrency companies? New York California Texas Washington

New York

Once records are submitted on a blockchain, can they be altered? Yes - the parties can go back in and alter them at any time. Yes - but only within a certain time frame. No - they cannot be altered.

No - they cannot be altered.

What is not a ledger type considered by users in Blockchain? Distributed Ledger Decentralized Ledger Both a and b None of these

None of these

What is the initial application for which Blockchain was designed? Peer-to-peer finance application Research Project Open source finance software to connect Banks None of these

None of these

Where is the bitcoin central server located? Washington DC Undisclosed Location London None of these

None of these

Where is the LEAST SAFE place to keep your cryptocurrency? In your pocket On an exchange On a hot wallet At your work desk

On an exchange

Cryptographic Hash Function transforms an arbitrary length of a fixed length string that act more or less as a Fingerprint of the document True False

False

True or False: Blockchain is the same as Bitcoin. True False

False

What was the highest the Bitcoin price ever reached on the CoinDesk Bitcoin Price Index? $1,113 $2,346 $1,165 $984

$1,165

When did bitcoin's creator publish a whitepaper introducing the digital currency? 2007 2008 2009 2010

2008

What is the maximum number of bitcoins that can be created? 16 million 21 million 100 million There is no maximum

21 million

How many new Bitcoins are created every day? 2200 Except of leap year 3600 7200 5000

3600

What incentivizes the miners to give correct validation of transactions? A nonce A block reward Thumbs up from the community More memory

A block reward

What is a node? A type of cryptocurrency A Blockchain A computer on a Blockchain network An exchange

A computer on a Blockchain network

What is a dApp? A type of Cryptocurrency A condiment A type of blockchain A decentralized application

A decentralized application

What is a blockchain? A distributed ledger on a peer to peer network A type of cryptocurrency An exchange A centralized ledger

A distributed ledger on a peer to peer network

What is the term for when a blockchain splits? A fork A merger A sidechain A division

A fork

What is a private key? A key on your key chain A key given to the public A key NOT to be given to the public A key that opens a secret door

A key NOT to be given to the public

What is a Dash Masternode? Two nodes sharing resources A single node that runs the whole network A node that provides additional supervisory network services Master of all Dash nodes

A node that provides additional supervisory network services

What is cold storage? A place to hang your coat A private key connected to the Internet A private key not connected to the Internet A desktop wallet

A private key not connected to the Internet

What is Proof of Stake? A certificate needed to use the blockchain A password needed to access an exchange How private keys are made A transaction and block verification protocol

A transaction and block verification protocol

Bitcoin uses UTXO, Ethereum uses: Double spend UTXO Account Balance Ether

Account Balance

What are the different types of tokens? Platform Privacy Currency All of the above

All of the above

Where can you buy cryptocurrency? A private transaction An exchange A Bitcoin ATM All of the above

All of the above

What does the block in the blockchain consist of? Transaction data A Hash point A Timestamp All of these

All of these

What is the impact of information leak for an organization? Loss in profit Loss of trust in costumers Cut down the reputation of the organization All of these

All of these

What is a LiteClient? Allows you to interact with the blockchain without downloading the whole blockchain A type of cryptocurrency A platform to develop dApps A server

Allows you to interact with the blockchain without downloading the whole blockchain

What are sidechains? Another term for a hash function Smart Contracts that have forked off the main Blockchain A parallel network running adjacent to the main blockchain network for additional security Any mechanism that allows tokens from one blockchain to be securely used within a completely separate Blockchain

Any mechanism that allows tokens from one blockchain to be securely used within a completely separate Blockchain

What characteristic makes blockchain tamper-proof? VPN Immutability Cryptocurrency Servers

Immutability

What does IPFS stand for? Interplanetary File System Inter Filing System Internet Play Store Internet Platform for Storage

Interplanetary File System - a protocol and peer-to-peer network for storing and sharing data in a distributed file system.

Are blockchain fully public? Yes No It depends

It depends

What is a miner? A type of blockchain An algorithm that predicts the next part of the chain A person doing calculations to verify a transaction Computers that validate and process blockchain transactions

Computers that validate and process blockchain transactions

What powers the Ethereum Virtual Machine? Gas Ether Bitcoin Block Rewards

Ether

How often does Bitcoin ledger reconcile Every day Every 3 months Every 3 Minutes Every 10 Minutes

Every 10 Minutes

A bitcoin address collision happens when 2 different payments are made at the same time to the same bitcoin address True False

False

An orphan block is only created when 51% attack is successful True False

False

hat does P2P stand for? Password to Password, Peer to Peer, Product to Product Private Key to Public Key

Peer to Peer

Which of the following is important for Blockchain Database Security Auditing Planning

Planning

What is the purpose of a nonce? Follows nouns A hash function Prevents double spending Sends information to the blockchain network

Prevents double spending

Asymmetric encryption uses: Public keys only Private keys only Public and Private keys Proof of Stake

Public and Private keys

Who invented Merkle Trees? Ralph Merkle Ralph Wiggum Nick Szabo Vitalik Buterin

Ralph Merkle

First step of Blockchain project implementation is? Requirement identification Feasible study on the security Controlling and monitoring the project Screen idea consideration

Requirement identification

Who created Bitcoin? Satoshi Nakamoto Samsung John Mcafee China

Satoshi Nakamoto

Which site run by Ross Ulbricht was closed by the FBI for letting people buy drugs with Bitcoin? Silk Road Lace Place Silk Street Dark Alley

Silk Road

What is a hash function? A fork UTXO Takes an input of any length and returns a fixed-length string of numbers and letters Gas

Takes an input of any length and returns a fixed-length string of numbers and letters

What is the name of the first academic paper that describes bitcoin commonly referred to as? The origins of money The Bitcoin Whitepaper The great unrevealing

The Bitcoin Whitepaper

What is a genesis block? The first block of a Blockchain A famous block that hardcoded a hash of the Book of Genesis onto the blockchain The first block after each block halving The 2nd transaction of a Blockchain

The first block of a Blockchain

After 10 Minutes a new block is formed that contains latest transactions True False

True

What is UTXO? United Transaction Office United Texan Xerox Organization Unspent Transaction Output Union of Texas Operations

Unspent Transaction Output

Where do you store your cryptocurrency? Bank account Floppy Disk Wallet In your pocket

Wallet

Which of the following is popularly used for storing bitcoins? Pocket Wallet Box Stack

Wallet

What is the name of the research paper that brought Bitcoin to the world? Black Paper White Paper Yellow Paper Green Paper

White Paper

Is it possible to program a blockchain to record transactions automatically? Yes No

Yes