Blockchain Technology Quiz - Distributed Ledger Assessment

Question 1

What is a blockchain fundamentally?

A centralized database managed by a single company A distributed, immutable ledger of transactions stored across a network of computers A programming language for financial applications A type of encryption algorithm

Question 2

What is the consensus mechanism used by Bitcoin?

Proof of Stake (PoS) Delegated Proof of Stake (DPoS) Proof of Work (PoW) Proof of Authority (PoA)

Question 3

What is a smart contract?

A legally binding document stored in PDF format on a server Self-executing code stored on a blockchain that automatically enforces agreement terms An AI-powered contract review tool A digital signature applied to traditional contracts

Question 4

What does "immutability" mean in the context of blockchain?

Data can be changed by administrators at any time Once data is recorded, it cannot be altered or deleted without consensus The blockchain cannot grow beyond a certain size Only verified users can read the data

Question 5

Which blockchain platform is most widely known for smart contracts and DeFi applications?

Bitcoin Ethereum Litecoin Dogecoin

Question 6

What is a hash function's role in blockchain?

It encrypts user passwords for account access It converts block data into a fixed-length string, linking blocks and ensuring integrity It compresses data to reduce storage requirements It translates blockchain code into machine language

Question 7

What is a "51% attack" on a blockchain network?

When 51% of users vote to change the blockchain protocol When a single entity controls more than half of the network's mining power, enabling transaction manipulation When 51% of nodes go offline simultaneously When transaction fees exceed 51% of the transaction value

Question 8

What is a non-fungible token (NFT)?

A type of stablecoin pegged to the US dollar A unique digital asset on a blockchain that cannot be replicated or exchanged on a one-to-one basis A cryptocurrency that cannot be traded on exchanges A token used exclusively for network transaction fees

Question 9

What distinguishes a public blockchain from a private blockchain?

Public blockchains are faster than private ones Public blockchains are open to anyone, while private blockchains restrict participation to approved members Private blockchains use cryptocurrency, public blockchains do not Public blockchains are government-owned, private are corporate-owned

Question 10

What is DeFi (Decentralized Finance)?

A government initiative to digitize the financial system Financial services built on blockchain that operate without traditional intermediaries like banks A new type of credit card powered by blockchain A decentralized stock market for trading company shares

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