Blockchain CBBF Practice Test - Questions Answers, Page 6
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What are the drawbacks of using Blockchain? Select all that apply
A.
High cost of developers
B.
Changing technology and the lack of a stable standard
C.
Its use of cryptography
D.
Its use of new applications
A Blockchain provides______________.
A.
true information by all parties involved
B.
a trusted transaction between untrusted parties
C.
the easiest way to conduct international transactions
D.
only trusted banks for conducting transactions
The Blockchain ledger is commonly referred to as___________.
A.
a database ledger
B.
a triple-entry ledger
C.
a double-entry ledger
D.
a genesis block
Blockchain has more built-in security than a standard database.
A.
True
B.
False
In which consensus algorithm is a nonce used?
A.
Proof of Activity
B.
Proof of Work
C.
Proof of Stake
D.
Proof of Burn
E.
All of the above
What does immutable mean?
A.
Fault tolerant
B.
Unable to be changed
C.
Highly secure
D.
None of the above
How are blocks chained together?
A.
By sharing the same transaction details
B.
Information of the previous block is embedded into the current block through hashing
C.
Information of the current block is embedded into the genesis block
D.
With a physical chain
Which of these applications would be suited for a private Blockchain?
A.
financial transactions
B.
manufacturing supply chain
C.
medical records
D.
food traceability
E.
All of the above
How would a developer make a change to Blockchain protocol?
A.
There are no restrictions, a developer could just change the code
B.
A developer would need to initiate a hard fork
C.
There is no way to change Blockchain protocol
D.
change the orderer configuration
E.
None of the above
How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate?
A.
By paying miners with U.S. dollars
B.
By paying the miners with cryptocurrency
C.
By placing their name on the Blockchain
D.
By not charging users monthly subscription costs
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