Question 1

Blockchain is faster and more efficient than a standard database.

Accepted Answer

A) True 
 B)False  False

Question 2

If a node on the network were to lose a copy of the ledger, the ledger is not lost. The large number of other nodes have a copy and won't lose track. This is known as___________.

Accepted Answer

A)   Censorship
B)   Immutability
C)   Transparency
D)   Redundancy B

Question 3

Transactions per second (TPS) for a Proof-of-Work Blockchain are approximately?

Accepted Answer

A)   24K per second
B)   175K per second
C)   Only limited to the number of nodes on the network
D)   7-15 per second
E)   None of the above D

Question 4

A distributed network is always decentralized.

Accepted Answer

A) True 
 B)False

Question 5

What is a block?

Accepted Answer

A)   A list or record of data
B)   A wallet that stores digital currency
C)   A pool of unconfirmed transactions
D)   A list or record of certificates
E)   All of the above

Question 6

Blockchain is the same as Bitcoin.

Accepted Answer

A) True 
 B)False

Question 7

What do consensus methods achieve?

Accepted Answer

A)   Anonymity in a peer to peer network
B)   The highest level of security in a database by ensuring 51% agreement of nodes on the network.
C)   The most efficient way of recording a transaction in any database.
D)   It confirms that all nodes on the network are legitimate.
E)   None of the above

Question 8

How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate?

Accepted Answer

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

Question 9

In its simplest state, a ledger_______________.

Accepted Answer

A)   determines which node stores the assets
B)   records the transfer of an asset between participants
C)   proves ownership on the Blockchain
D)   provides privacy to users on the Blockchain

Question 10

What is a hash function?

Accepted Answer

A)   A one-way function that converts input to a unique string output
B)   A function that stores data behind a key
C)   A two-way function used for condensing information
D)   The block-ID of the block
E)   All the above

Question 11

Blockchain technology uses__________________.

Accepted Answer

A)   the latest banking software
B)   the same network S/W as the central bank
C)   the latest router S/W and network H/W
D)   A combination of older technology

Question 12

How does the Bitcoin provide anonymity?

Accepted Answer

A)   Through Merkle trees
B)   Through public/private key cryptography
C)   Through consensus algorithms such as Proof of Work
D)   By publishing only the block address
E)   None of the above

Question 13

What is dApp?

Accepted Answer

A)   A decentralized application
B)   A dishonest application
C)   A decoded application
D)   A distributed application

Question 14

A smart contract on the Blockchain provides __________. Select all that apply.

Accepted Answer

A)   Specific actions to be taken on events or transactions
B)   The same contracts a bank provides
C)   A set of business conditions that must be met
D)   Better anonymity of those making transactions

Question 15

Blockchain has more built-in security than a standard database.

Accepted Answer

A) True 
 B)False

Question 16

What is a Blockchain?

Accepted Answer

A)   A digital currency
B)   An unchangeable record
C)   A database of usable secret data
D)   A Smart Contract
E)   All of the above

Question 17

Which Blockchain protocol uses Proof of Work Consensus? Select all that apply

Accepted Answer

A)   Hyperledger
B)   Corda
C)   Bitcoin
D)   Ethereum
E)   All of the above

Question 18

Which of the following are practical use cases for Blockchain?

Accepted Answer

A)   Voting
B)   A video sharing website
C)   Medical records
D)   Identity management
E)   All of the above

Question 19

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

Accepted Answer

A)   increasing the number of transactions per second (TPS) 
B)   the inability to find use cases
C)   solving user identity
D)   getting banks to cooperate

Question 20

What are the drawbacks of using Blockchain? Select all that apply

Accepted Answer

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

Exam 1: Certified Blockchain Business Foundations

Blockchain is faster and more efficient than a standard database.

If a node on the network were to lose a copy of the ledger, the ledger is not lost. The large number of other nodes have a copy and won't lose track. This is known as___________.

Transactions per second (TPS) for a Proof-of-Work Blockchain are approximately?

A distributed network is always decentralized.

What is a block?

Blockchain is the same as Bitcoin.

What do consensus methods achieve?

How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate?

In its simplest state, a ledger_______________.

What is a hash function?

Blockchain technology uses__________________.

How does the Bitcoin provide anonymity?

What is dApp?

A smart contract on the Blockchain provides __________. Select all that apply.

Blockchain has more built-in security than a standard database.

What is a Blockchain?

Which Blockchain protocol uses Proof of Work Consensus? Select all that apply

Which of the following are practical use cases for Blockchain?

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

What are the drawbacks of using Blockchain? Select all that apply