Facts

Question 1

What is blockchain?

Answer 1

A decentralized digital ledger that records transactions across many computers.

Question 2

True or False: Blockchain is a centralized system.

Answer 2

False

Question 3

What technology underlies blockchain?

Answer 3

Cryptography

Question 4

Fill in the blank: Each block in a blockchain contains a list of ______.

Answer 4

Transactions

Question 5

What is a smart contract?

Answer 5

A self-executing contract with the terms of the agreement directly written into code.

Question 6

Which consensus mechanism is commonly used in blockchain?

Answer 6

Proof of Work

Question 7

What is a node in the context of blockchain?

Answer 7

A computer that participates in the blockchain network.

Question 8

True or False: Once data is added to a blockchain, it can be easily altered.

Answer 8

False

Question 9

What is a public blockchain?

Answer 9

A blockchain that is open to anyone and allows anyone to participate in the network.

Question 10

What does the term ‘mining’ refer to in blockchain?

Answer 10

The process of validating transactions and adding them to the blockchain.

Question 11

Fill in the blank: Bitcoin was the first ______ to use blockchain technology.

Answer 11

Cryptocurrency

Question 12

What is a private blockchain?

Answer 12

A blockchain that is restricted to a specific group of users.

Question 13

What is the main purpose of blockchain technology?

Answer 13

To provide a secure and transparent way to record transactions.

Question 14

Which of the following is a use case for blockchain? (A) Supply Chain Management (B) Traditional Banking (C) Email Services

Answer 14

A

Question 15

What does ‘decentralization’ mean in blockchain?

Answer 15

The distribution of authority and control away from a central entity.

Question 16

What is the role of a blockchain wallet?

Answer 16

To store private and public keys for cryptocurrency transactions.

Question 17

True or False: All blockchains are public.

Answer 17

False

Question 18

What is a hash in blockchain?

Answer 18

A fixed-length string of characters generated from input data, used to ensure data integrity.

Question 19

What is a fork in blockchain?

Answer 19

A split in the blockchain that creates two separate versions of the ledger.

Question 20

Fill in the blank: Ethereum is known for its support of ______.

Answer 20

Smart Contracts

Question 21

What is a token in blockchain?

Answer 21

A digital asset created on a blockchain, representing a unit of value.

Question 22

What does ICO stand for?

Answer 22

Initial Coin Offering

Question 23

Which of the following is a characteristic of blockchain? (A) Transparency (B) Centralization (C) High Fees

Answer 23

A

Question 24

What is the purpose of consensus algorithms in blockchain?

Answer 24

To achieve agreement among network participants on the state of the blockchain.

Question 25

What is a digital signature?

Answer 25

A cryptographic mechanism that verifies the authenticity of a digital message or document.

Question 26

Fill in the blank: The first block in a blockchain is called the ______.

Answer 26

Genesis Block

Question 27

What is a decentralized application (dApp)?

Answer 27

An application that runs on a decentralized network, typically using smart contracts.

Question 28

True or False: Blockchain technology can only be used for cryptocurrencies.

Answer 28

False

Question 29

What is a blockchain explorer?

Answer 29

A tool that allows users to view transactions and blocks on a blockchain.

Question 30

What is the significance of immutability in blockchain?

Answer 30

It ensures that once data is recorded, it cannot be changed or deleted.

Question 31

What is the main benefit of using blockchain in supply chain management?

Answer 31

Increased transparency and traceability of products.