A platform for creating decentralized applications

Why is Hyperledger a good business solution over other Blockchains?

Multiple consensus methods can be chosen for use

Always permissioned and private

Modular design allowing for flexibility in solution

Multiple consensus methods can be chosen for use

Transparency allows_____________.

a trustless system where users can be certain of a result

easy iteration through the Blockchain

Records on the Blockchain to never be changed

users on the Blockchain to change data on the Blockchain

How does a private Blockchain differ from a public one? Select all that apply.

A private Blockchain often requires the identity of users to be known

A private Blockchain does not use proof of work consensus

A private Blockchain is more efficient and has faster transaction times

A private Blockchain is not distributed

A private Blockchain often requires the identity of users to be known

Why is a private Blockchain used instead of a public one?

To limit user access and permissions

It is less expensive to develop

It requires less mining power than a public Blockchain

It requires fewer administrators to manage it

Blockchains work best when they are____________________.

used for financial applications

combined with other technologies

used for financial applications

used as an alternative to a database

What is a hash function?

A one-way function that converts input to a unique string output

A function that stores data behind a key

A two-way function used for condensing information

Blockchains are being implemented in the food supply chain because_____________.

consumers demand to know where their food comes from

it allows farm to table accountability for safety

they have the potential to provide fast, specific supplier data

it prevents food waste if a food contamination problem occurs

Which item(s) make up a block header?

The hash of the Merkle root and the header of the previous block

The hash of every transaction in a specific block and the next block

The time stamp of the block and the genesis block hash

How is Blockchain benefiting voting?

By allowing voters to trust their vote has been counted

By revealing the identity of each voter and who or what they voted for

By controlling who gets to vote

By only allowing a certain number of votes per person

By allowing voters to trust their vote has been counted

Which of the following statements sums up the Proof of Work consensus process?

All nodes agree on the data of the transaction.

Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.

Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.

All nodes agree on the data of the transaction.

Miners send assets to an inactive address. This process selects the next owner of a block.

One of the big issues that new financial transaction Blockchain solutions face is____________.

increasing the number of transactions per second (TPS)

the inability to find use cases

Once a record is stored on the Blockchain ____________.

the record is moved to a secure server

the record is stored on a central node

it can be changed by an authorized person

An asset is defined as ____________.

anything of value requiring accountability of ownership

any record on a private network

Blockchain applications can provide____________________.

the elimination of intermediaries

building more trust between trusted parties

collaboration between trusted parties

better cooperation between banks

A Blockchain does NOT provide which attribute?

Fault Tolerance through distribution

In a private business Blockchain, transactions are endorsed by______________.

only relevant business participants

only the smart contract developer

all the nodes on the Blockchain

all participants with access to the network

Blockchain allows for which of the following?

A peer to peer ledger without the need of a third party

The transaction hash contained in a block is the______________.

digital fingerprint of the block

unique number to show it's a Bitcoin block

digital fingerprint of the block

How does the Bitcoin provide anonymity?

Through public/private key cryptography

Through consensus algorithms such as Proof of Work

By publishing only the block address

In its simplest state, a ledger_______________.

records the transfer of an asset between participants

determines which node stores the assets

records the transfer of an asset between participants

proves ownership on the Blockchain

provides privacy to users on the Blockchain

What is the focus or primary goal of a private Blockchain? Select all that apply.

To provide transparency and trust for business while remaining secure

To provide anonymity in business

To save money by eliminating intermediaries

To create a distributed database that allows for CRUD

To provide transparency and trust for business while remaining secure

Blockchain technology uses__________________.

A combination of older technology

the same network S/W as the central bank

the latest router S/W and network H/W

A combination of older technology

The Blockchain combined with the Internet of Things (IoT) will dramatically ____________.

increase the use of cryptocurrency

Blockchain CBBF Practice Test 1 - Free Online Exam Prep & Questions

What does a Merkle tree provide?

A.

Efficient block lookups and protection against forgery

B.

Anonymity and transparency

C.

A Turing complete distributed network

D.

A way to deploy smart contracts onto the Blockchain

E.

All of the above

Blockchain CBBF Practice Test 1

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Blockchain CBBF Practice Tests

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