Blockchain MCQs

Blockchain MCQs: Multiple Choice Q&A about Blockchain

Blockchain MCQs: Multiple Choice Question and Answers about Blockchain technology.

 

Blockchain MCQs

 

1- In Blockchain, what does a node mean ??

(A) An exchange

(B) A type of cryptocurrency

(C) A blockchain

(D) A computer on a Blockchain network

 

2- What does Asymmetric Encryption use ??

(A) Public and private keys

(B) Proof of stake

(C) Public keys only

(D) Only private keys

 

3- P2P stands for ??

(A) Product to Product

(B) Peer to Peer

(C) Password to Password

(D) Public key to private key

 

4- Who is the founder of “Bitcoin” ??

(A) Warren Buffet

(B) Satoshi Nakamoto

(C) Nokia

(D) Microsoft

 

5- On which Blockchain Bitcoin is based ??

(A) Permissioned

(B) Private

(C) Public

(D) Public Permissioned

 

6- Cryptocurrency is stored in ??

(A) Compact Disk

(B) Bank account

(C) Wallet

(D) USB

 

7- Blockchain can be stored as which of the following ??

(A) A Database

(B) A flat file

(C) both (a) and (b)

(D) None of these

 

8- The least safe place to keep your Cryptocurrency is ?? 

(A) On an exchange

(B) in your pocket

(C) Floppy Disk

(D) None of the above

 

9- Blockchain forks can result in which of the following ??

(A) Multiple children block

(B) Multiple parent block

(C) Both (a) and (b)

(D) None of these

 

10- What is a miner in terms of Blockchain ??

(A) transactions picking algorithm

(B) Calculations to verify transactions

(C) Computers that validate and process blockchain transactions

(D) A type of blockchain

 

Blockchain MCQs

 

11- How blocks are linked in Blockchain ??

(A) Forward to the next block

(B) Not linked with each other

(C) Backward to the previous block

(D) Both (a) and (c)

 

12- What are the different types of tokens in cryptocurrency ??

(A) Currency

(B) Platform

(C) Privacy

(D) All of the above

 

13- What is Blockchain ??

(A) An exchange

(B) A distributed ledger on a peer to peer network

(C) An algorithm

(D) A type of cryptocurrency

 

14- Where can you buy a Cryptocurrency ??

(A) A Bitcoin ATM

(B) Private Transaction

(C) an exchange

(D) All of the above

 

15- What is the meaning of a private Key ??

(A)  A key to open a secret door

(B) A key not to be given to the public

(C) A key on your keychain

(D) The master key

 

16- Which site run by Ross Ulbricht was closed by the FBI for letting people buy drugs with Bitcoin ??

(A) Silk Road

(B) Lace Place

(C) Silk Street

(D) Dark Alley

 

17- Which of these US states introduced the BitLicense regulation for cryptocurrency companies ??

(A) New York

(B) California

(C) Texas

(D) Washington

 

18- Cryptographic Hash Function transforms an arbitrary length of a fixed-length string that acts more or less as a Fingerprint of the document ??

(A) True

(B) False

 

19- What is the name of the famous Bitcoin exchange from Japan that collapsed in 2014 ??

(A) Blockchain.info

(B) Tradehill

(C) Mt. Gox

(D) Bitstamp

 

20- What does the block in the blockchain consist of ??

(A) Transaction data

(B) A Hash point

(C) A Timestamp

(D) All of these

 

Blockchain MCQs

 

21- After 10 Minutes a new block is formed that contains the latest transactions ??

(A) True

(B) False

 

22- A bitcoin address collision happens when 2 different payments are made at the same time to the same bitcoin address ??

(A) True

(B) False

 

23- What is not a ledger type considered by users in Blockchain ??

(A) Distributed Ledger

(B) Decentralized Ledger

(C) Both a and b

(D) None of these

 

24- What is the impact of information leaks on an organization ??

(A) Loss in profit

(B) Loss of trust in customers

(C) Cut down the reputation of the organization

(D) All of these

 

25- What time did Bitcoin Network Start ??

(A) January 2009

(B) September 2001

(C) November 2008

(D) None Of The Above

 

26- How many new Bitcoins are created every day ??

(A) 2200 Except leap year

(B) 3600

(C) 7200

(D) 5000

 

27- What is the initial application for which Blockchain was designed ??

(A) Peer-to-peer finance application

(B) Research Project

(C) Open source finance software to connect Banks

(D) None of these

 

28- Where is the bitcoin central server located ??

(A) Washington DC

(B) Undisclosed Location

(C) London

(D) None of these

 

29- An orphan block is only created when a 51% attack is successful ??

(A) True

(B) False

 

30- The first step of Blockchain project implementation is ??

(A) Requirement identification

(B) Feasible study on the security

(C) Controlling and monitoring the project

(D) Screen idea consideration

 

Blockchain MCQs

 

31- What does a ledger in a blockchain do ??

(A) Mapping between owner and object

(B) Identification of objects owned

(C) Identification of owners

(D) None Of These

 

32- Which of the following is important for Blockchain ??

(A) Database Security

(B) Auditing

(C) Planning

(D) Both (b) and (c)

 

 

33- What is the name of the first academic paper that describes bitcoin commonly referred to as ??

(A) The origins of money

(B) The Bitcoin Whitepaper

(C) The great unrevealing

(D) None Of These

 

34- Which is NOT a part of asymmetric encryption ??

(A) Mining

(B) Public key

(C) Passphrase

(D) Private Key

 

35- How often does the Bitcoin ledger reconcile ??

(A) Every day

(B) Every 3 months

(C) Every 3 Minutes

(D) Every 10 Minutes

 

36- What is the term for when a blockchain splits ??

(A) A fork

(B) A merger

(C) A sidechain

(D) A division

 

37- What is a dApp ??

(A) A type of Cryptocurrency

(B) A condiment

(C) A type of blockchain

(D) A decentralized application

 

 

38- What is cold storage ??

(A) A place to hang your coat

(B) A private key connected to the Internet

(C) A private key not connected to the Internet

(D) A desktop wallet

 

39- What is the purpose of a nonce ??

(A) Follows nouns

(B) A hash function

(C) Prevents double spending

(D) Sends information to the blockchain network

 

40- What is a genesis block ??

(A) The first block of a Blockchain

(B) A famous block that hardcoded a hash of the Book of Genesis onto the blockchain

(C) The first block after each block halving

(D) The 2nd transaction of a Blockchain

 

Blockchain MCQs

 

41- What incentivizes the miners to give correct validation of transactions ??

(A) A nonce

(B) A block reward

(C) Thumbs up from the community

(D) More memory

 

42- What is Proof of Stake ??

(A) A certificate needed to use the blockchain

(B) A password needed to access an exchange

(C) How private keys are made

(D) A transaction and block verification protocol

 

43- What is UTXO ??

(A) United Transaction Office

(B) United Texan Xerox Organization

(C) Unspent Transaction Output

(D) Union of Texas Operations

 

44- What powers the Ethereum Virtual Machine ??

(A) Gas

(B) Ether

(C) Bitcoin

(D) Block Rewards

 

45- What is a hash function ??

(A) A fork

(B) UTXO

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

(D) Gas

 

46- Who invented Merkle Trees ??

(A) Ralph Merkle

(B) Ralph Wiggum

(C) Nick Szabo

(D) Vitalik Buterin

 

47- What is a Dash Masternode ??

(A) Two nodes sharing resources

(B) A single node that runs the whole network

(C) A node that provides additional supervisory network services

(D) Master of all Dash nodes

 

48- What does IPFS stand for ??

(A) Interplanetary File System

(B) Inter Filing System

(C) Internet Play Store

(D) Internet Platform for Storage

 

49- What is the name of the research paper that brought Bitcoin to the world ??

(A) Black Paper

(B) White Paper

(C) Yellow Paper

(D) Green Paper

 

50- What characteristic makes blockchain tamper-proof ??

(A) VPN

(B) Immutability

(C) Cryptocurrency

(D) Servers

 

Blockchain MCQs

 

51- What are sidechains ??

(A) Another term for a hash function

(B) Smart Contracts that have forked off the main Blockchain

(C) A parallel network running adjacent to the main blockchain network for additional security

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

 

52- What is a LiteClient ??

(A) Allows you to interact with the blockchain without downloading the whole blockchain

(B) A type of cryptocurrency

(C) A platform to develop dApps

(D) A server

 

 

53- Bitcoin uses UTXO, Ethereum uses ??

(A) Double spend

(B) UTXO

(C) Account Balance

(D) Ether

 

54- When a record is on a blockchain, who can access it ??

(A) Multiple people simultaneously

(B) One person at a time

(C) Only the people involved in the transaction

(D) Only (c)

 

55- Blockchain is the same as Bitcoin ??

(A) True

(B) False

 

56- Is it possible to program a blockchain to record transactions automatically ??

(A) Yes

(B) No

 

57- Once records are submitted on a blockchain, can they be altered ??

(A) Yes – the parties can go back in and alter them at any time

(B) Yes – but only within a certain time frame

(C) No – they cannot be altered

(D) Both (a) and (b)

 

 

58- When did bitcoin’s creator publish a whitepaper introducing the digital currency ??

(A) 2007

(B) 2008

(C) 2009

(D) 2010

 

59- Is blockchain fully public ??

(A) Yes

(B) No

(C) It depends

 

60- Which of the following is a now-defunct Bitcoin exchange ??

(A) Bit Box

(B) Mt Fox

(C) Mt Gox

(D) Ft Nox

 

Blockchain MCQs

 

61- What is the maximum number of bitcoins that can be created ??

(A) 16 million

(B) 21 million

(C) 100 million

(D) There is no maximum

 

62- What was the highest Bitcoin price ever reached on the CoinDesk Bitcoin Price Index ??

(A) $1,113

(B) $2,346

(C) $1,165

(D) $984

 

63- What is the process of creating new bitcoins popularly known as ??

(A) Finding

(B) Panning

(C) Sourcing

(D) Mining