Blockchain MCQs Quiz with Answers

1. Blockchain offers identity authentication through a visible ledger and thus have greater potential for cyber risk.

a. False
b. True

2. We can buy cryptocurrency.

a. False
b. True

3. Both ________ and ________ automatically check your previous transactions to make sure you have enough bitcoins to send.

a. Ledger and your Wallet
b. Bitcoin Network and your Wallet
c. Miners and Users

4. _______ is popularty known as DLT with difference.

a. Hyperledger
b. Ethereum
c. R3 corda

5. One Bitcoin could be divided down to ________ decimal point?

a. 5
b. 16
c. 8
d. 4

6. Name of the first cryptocurrency with computing power contribution?

a. Gridcoin
b. Litecoin
c. Ripple
d. Bitcoin

7. Which platform could gain its best use case from financial service industry?

a. Ethereum
b. Hyperledger
c. R3 Corda
d. All the options

8. China and Russia were among-est the first few countries to promote bitcoin in their economy?

a. True
b. False

9. A transaction without verification in bitcoin could be fastest accomplished in how much time?

a. Instantaneous
b. 90 seconds
c. 60 Minutes
d. 1 Minute

10. How many types of blockchains have emerged after bitcoin introduced blockchain to the world?

a. Five
b. Three
c. Two
d. Seven

11. We may use bitcoin for purchasing merchandise as well?

a. False
b. True

12. The output of Hashing is popularly known as _________.

a. Plain Text
b. Digital Signature
c. Contract
d. Digest

13. The value of coins (Litecoin, Bitcoin) is same at a particular time.

a. True
b. False

14. Which among the following are the advantages of using Bitcoin?

a. Negligible transaction fee
b. Can be used to transfer money anywhere in the world
c. Your account cannot be frozen
d. All the options

15. Private Blockchain allows organizations who have privacy and compliance regulations to implement Blockchain.

a. False
b. True

16. Bitcoin is ____________.

a. Peer to public currency
b. Public to peer currency
c. Peer to peer currency
d. Public to public currency

17. Who is miner?

a. An algorithm that predict the next part of the chain
b. Computers that validate and process blockchain transactions
c. A type of blockchain

18. Ethereum is a digital currency.

a. False
b. True

19. Blockchain which is popularly known as “for the people, by the people and of the people” is ________.

a. Public Blockchain
b. Private Blockchain
c. Federated Blockchain

20. Bitcoin is an example of which type of blockchain?

a. Public Blockchain
b. Federated Blockchain
c. Private Blockchain

21. Currencies other than Bitcoin such as Litecoin and Dash are popularly known as _________.

a. Cryptocoins
b. Altcurrency
c. Altcoins
d. Cryptocurrency

22. One symbol could be substituted with a key using substitution cipher.

a. False
b. True

23. Which among the following is the most flexible cryptocurrency?

a. Ether
b. Ripple
c. Bitcoin
d. Litecoin

24. Coincap is a budding cryptocurrency.

a. False
b. True

25. Blockchain offers identity authentication through a visible ledger and thus have greater potential for cyber risk.

a. True
b. False

24. Smart Contracts are reversible.

a. True
b. False

25. In asymmetric key cryptography, the private key is kept by __________.

a. Everyone in the network
b. sender and receiver
c. receiver
d. sender

26. There is no cryptographic protocol that can be used to secure HTTP connection.

a. False
b. True

27. HASH can be used to validate the input.

a. True
b. Sometimes yes
c. False
d. None

28. Bankchain is an example of ________.

a. Federated Blockchain
b. Public Blockchain
c. Private Blockchain

29. Encryption reduces data security.

a. True
b. False

30. The first smart contract platform is _______.

a. Blockchain
b. Hyperledger Fabric
c. Ethereum
d R3 Corda

31. New bitcoins are released every time a transaction is verified.

a. True
b. False

32. Consortium Blockchain provides a faster and more protected ecosystem than a private Blockchain?

a. True
b. False

33. Bitcoin network would make it impossible to bypass the traditional financial intermediaries.

a. False
b. True

34. The higher the computational power, the lower is the difficulty in mining.

a. True
b. False

35. Ether provides greater flexibility than Bitcoin does.

a. False
b. True

36. The rate of generation of new bitcoins is constant.

a. False
b. True

37. Crypto analysis is used ___________.

a. To find some insecurity in a cryptographic scheme
b. To increase the speed
c. to encrypt the data
d. none of the options

38. Bitcoins can be purchased in exchanges of services.

a. True
b. False

39. Blockchain could prevent robustness and transparency in the post – trade environment.

a. False
b. True

40. Where can you buy a cryptocurrency?

a. At a digital bitcoin ATM
b. In a smart contract
c. All the options
d. At a private transaction

41. Which of the following platforms provides a modular architecture?

a. Hyperledger
b. Ethereum
c. R3 Corda

42. Hyperledger allows us to customize the visibility of a transaction in a blockchain.

a. False
b. True

43. Chose the correct options.

a. Hash algorithm takes inputs of any size and produces an output of a fixed size.
b. Hash algorithm takes analogous input and converts it into digital.
c. Hash algorithm is used for encryption.

44. Who is the founder of Hyperledger Fabric?

a. Linux Foundation
b. Ethereum Developers
c. Miners in blockchain
d. R3

45. Ripple is an example of ____________.

a. Public Blockchain
b. Federated Blockchain
c. Private Blockchain

46. Blockchain provides _________ database of every transaction involving value.

a. Closed Centralized
b. Closed Decentralized
c. Open Centralized
d. Open Decentralized

Lokesh Kumar: Being EASTER SCIENCE's founder, Lokesh Kumar wants to share his knowledge and ideas. His motive is "We assist you to choose the best", He believes in different thinking.
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