Google News
logo
Blockchain - Quiz(MCQ)
A)
A Currency
B)
A centralized ledger
C)
A type of cryptocurrency
D)
A distributed ledger on a peer to peer network

Correct Answer : Option (D) :   A distributed ledger on a peer to peer network


Explanation : A Blockchain is a constantly growing ledger(file) that keeps a permanent record of all the transactions that have taken place, in a secure, chronological, and immutable way. It can be used for the secure transfer of money, property, contracts, etc. without requiring a third-party intermediary like bank or government.

 
Blockchain is the backbone of the most famous cryptocurrency named Bitcoin. It is a peer to peer electronic cash system and a decentralized network which allows users to make transactions directly without the involvement of third-party to manage the exchange of funds..

Source : F T L

A)
David Chaum
B)
Dave Bayer
C)
Stuart Haber
D)
W. Scott Stornetta

Correct Answer : Option (A) :   David Chaum


Explanation : Cryptographer David Chaum first proposed a blockchain-like protocol in his 1982 dissertation "Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups.

A)
2006
B)
2007
C)
2008
D)
2009

Correct Answer : Option (C) :   2008


Explanation : The blockchain was popularized by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin, based on work by Stuart Haber, W. Scott Stornetta, and Dave Bayer. The identity of Satoshi Nakamoto remains unknown to date. The implementation of the blockchain within bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. 

A)
Pocket
B)
Wallet
C)
Exchange
D)
Bank account

Correct Answer : Option (B) :   Wallet


Explanation : Just the way we keep cash or cards in a physical wallet, bitcoins are also stored in a walleta digital wallet. The digital wallet can be hardware-based or web-based. The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys and addresses used for access on paper.

A)
Texas
B)
New York
C)
California
D)
Washington

Correct Answer : Option (B) :   New York

A)
Secure
B)
Popular
C)
Demanding
D)
Decentralized

Correct Answer : Option (D) :   Decentralized


Explanation : Blockchain is a peer-to-peer decentralized distributed ledger technology that makes the records of any digital asset transparent and unchangeable and works without involving any third-party intermediary.

A)
Peer to Peer
B)
Product to Product
C)
Password to Password
D)
Private Key to Public Key

Correct Answer : Option (A) :   Peer to Peer

A)
A Blockchain
B)
An exchange
C)
A type of cryptocurrency
D)
A computer on a Blockchain network

Correct Answer : Option (D) :   A computer on a Blockchain network

A)
Elon Musk
B)
Warren Buffett
C)
Satoshi Nakamoto
D)
Mark Zuckerberg

Correct Answer : Option (C) :   Satoshi Nakamoto


Explanation : Satoshi Nakamoto is the pseudonym who penned the original Bitcoin whitepaper and is the identity credited with inventing Bitcoin itself.

A)
A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks.
B)
A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server.
C)
A blockchain has been described as a value-exchange protocol.
D)
All of the above statements are true

Correct Answer : Option (D) :   All of the above statements are true