Blockchain - Potentes nexus | Fresco Play

Question 1: Blockchain which is popularly known as ‘for the people, by the people and of the people” is

Answer: Public

Question 2: Mainly how many types of blockchains have emerged after bitcoin introduced blockchain to the world?

Answer: 3

Question 3: Bankchain is an example of

Answer: Private Blockchain

Question 4: Digital assets must always be tangible

Answer: False

Question 5: Bitcoin network would make it impossible to bypass the traditional financial intermediaries

Answer: False

Question 6: The three concepts used to explain the foundation of blockchain are

Answer: Business Network, Digital Assets, Ledger

Question 7: Consortium Blockchain provides a faster and more protected ecosystem than a Private Blockchain?

Answer: True

Question 8: Private Blockchain is a de-centralized type of Blockchain?

Answer: False

Question 9: BlockChain provides ___________ database of every transaction involving value

Answer: Open decentralized

Question 10: The value of coins ( litecoin, bitcoin) is same at a particular time

Answer: False

Question 11: The two types of cryptography are

Answer: Asymmetric and Symmetric

Question 12: We can buy cryptocurrency

Answer: False

Question 13: Encryption reduces data security

Answer: False

Question 14: The value of cryptocurrency is independent of market conditions such as supply and demand

Answer: False

Question 15: Name the first cryptocurrency with computing power contribution?

Answer: Gridcoin

Question 16: Encrypted text is also known as

Answer: Cipher Text 

Question 17: HASH can be used to validate the input?

Answer: True

Question 18: Which among the following is the most flexible cryptocurrency?

Answer: litecoin

Question 19: We may use bitcoin for purchasing merchandise as well?

Answer: True

Question 20: The higher the computational power, the lower is the difficulty in mining

Answer: False

Question 21: The rate of generation of new bitcoins is constant

Answer: False

Question 22: The output of Hashing is popularly known as

Answer: Digest

Question 23: Bitcoins can be purchased in exchange of services

Answer: True

Question 24: Which among the following are the advantages of using Bitcoin

Answer: All the options

Question 25: The sender and the receiver in a transaction provide miners with a fee

Answer: False

Question 26: Which platform could gain its best use case from financial service industry?

Answer: R3 corda

Question 27: Ether provides greater flexibility than Bitcoin does

Answer: True

Question 28: The first smart contract platform is

Answer: Ethereum

Question 29: Which of the following platform(s) provides a modular architecture?

Answer: Hyperledger

Question 30: New bitcoins are released every time a transaction is verified

Answer: True

Question 31: Which platform could gain its best use case from supply chain industry?

Answer: Hyperledger

Question 32: Ethereum is a digital currency

Answer: False

Question 33: Number of bitcoins to be ever created would depend upon demand-supply in the market?

Answer: False

Question 34: ___ records all the transactions in a blockchain

Answer: Block

Question 35: A transaction without verification in bitcoin could be fastest accomplished in how much time?

Answer: Instantaneous

Question 36: One bitcoin could be divided down to ____ decimal point

Answer: 8

Question 37: Smart Contracts are reversible

Answer: False

Question 38: One symbol could be substituted with a key using substitution cipher

Answer: False

Question 39: Blockchain could soon replace central banks

Answer: True

Question 40: Blockchain could prevent robustness and transparency in the post – trade environment

Answer: True

Question 41: China and Russia were amongst the first few countries to promote bitcoin in their economy?

Answer: False

Question 42: Both ________ and ________ automatically check your previous transactions to make sure you have enough bitcoins to send

Answer: Ledger and your Wallet

Question 43: Bitcoin is an example of which type of blockchain?

Answer: Public Blockchain

Question 44: Currencies other than Bitcoin such as Litecoin and Dash are popularly known

Answer: Altcoins

Question 45: In asymmetric key cryptography, the private key is kept by _________.

Answer: Receiver

Question 46: Blockchain offers identity authentication through a visible ledger and thus have greater potential for cyber risk.

Answer: False

Question 47: Bitcoin is __________.

Answer: Public to peer currency

Question 48: Who is a miner?

Answer: A type of blockchain.

Question 49: Hyperledger allows us to customize the visibility of a transaction in a blockchain.

Answer: True