Blockchain is a shared, distributed database, immutable ledger and decentralized which facilitates the process of recording transactions and tracking of digital assets in a computer network.
Question# 1 Blockchain provides _ kind of database for every transaction involving value.
1) Closed Decentralized
2) Open Decentralized
3) Closed Centralized
4) Open Centralized
Correct Answer :- Open Decentralized
Question# 2 The three concepts used to explain the foundation of blockchain are ______.
1) Digital Ledger, Physical Assets, Banks
2) Distributed Network, Cryptography , Public Ledger
3) Ledger, Bitcoins, Digital Identity
4) Business Network, Ledger, Physical Assets
Correct Answer :- Distributed Network, Cryptography , Public Ledger
Question# 3 Consortium blockchain has a predefined set of nodes allowing the users to write the data.
1) True
2) False
Correct Answer :- True
Question# 4 Private blockchain is a de-centralized type of blockchain?
1) True
2) False
Correct Answer :- False
Question# 5 Hash is used to ensure integrity of the data transmitted in the blockchain network.
1) True
2) False
Correct Answer :- True
Question# 6 Cryptocurrency is authorized in all countries.
1) True
2) False
Correct Answer :- False
Question# 7 Encryption reduces data security?
1) True
2) False
Correct Answer :- False
Question# 8 In bitcoin mining, the computational power adjusts the difficulty level of mining.
1) True
2) False
Correct Answer :- True
Question# 9 The sender and the receiver in a transaction always provide miners with a fee.
1) True
2) False
Correct Answer :- False
Question# 10 The two types of cryptography are __.
1) Asymmetric and Symmetric
2) Asymmetric and Public
3) Public and Private
4) Symmetric and Public
Correct Answer :- Asymmetric and Symmetric
Blockchain Potentes Nexus MCQs
Question# 11 The output of hashing is popularly known as _.
1) Digital Signature
2) Plain text
3) Contract
4) Digest
Correct Answer :- Digest
Question# 12 Which among the following are the advantages of using Bitcoin?
1) Negligible transaction fee
2) Your account cannot be frozen
3) Can be used to transfer money anywhere in the world
4) All the options
Correct Answer :- All the options
Question# 13 Which platform could gain its best use case from supply chain industry?
1) R3 Corda
2) Ethereum
3) Hyperledger
4) All the options
Correct Answer :- Hyperledger
Question# 14 Which of the following platform(s) provides a modular architecture?
1) Hyperledger
2) Ethereum
3) Ethereum and R3 Corda
4) R3 Corda
Correct Answer :- Hyperledger
Question# 15 The first smart contract platform is _.
1) R3 Corda
2) Hyperledger Fabric
3) Blockchain
4) Ethereum
Correct Answer :- Ethereum
Question# 16 Where can you buy a cryptocurrency?
1) In a smart contract
2) Cryptocurrency Exchanges
3) Through a private transaction
4) All the options
Correct Answer :- Cryptocurrency Exchanges
Question# 17 Ethereum is a digital currency.
1) True
2) False
Correct Answer :- False
Question# 18 Crypto analysis is used _.
1) to encrypt the data
2) to find some insecurity in a cryptographic scheme
3) to increase the speed
4) None of the options
Correct Answer :- to find some insecurity in a cryptographic scheme
Blockchain Potentes Nexus Questions and Answers
Question# 19 Which among the following option/options is/are consensus algorithms?
1) PoS
2) Byzantine
3) PoW
4) All of the options
Correct Answer :- All of the options
Question# 20 New bitcoins are released every time a transaction is verified.
1) True
2) False
Correct Answer :- True
Question# 21 Ether provides greater flexibility than bitcoin.
1) True
2) False
Correct Answer :- True
Question# 22 Which among the following is the most flexible cryptocurrency?
1) Ripple
2) Bitcoin
3) Ether
4) Litecoin
Correct Answer :- Ether
Question# 23 Which platform could gain its best use case from financial service industry?
1) Hyperledger
2) R3 Corda
3) Ethereum
4) All the options
Correct Answer :- All the options
Question# 24 __ is checked for your previous transactions to determine your wallet balance.
1) Bitcoin Network and your Wallet
2) Ledger
3) Miners and Users
Correct Answer :- Ledger
Question# 25 Bitcoin network would make it impossible to bypass the traditional financial intermediaries.
1) True
2) False
Correct Answer :- False
Question# 26 Cyptocurrency is the only use case of blockchain.
1) True
2) False
Correct Answer :- False
Question# 27 The value of coins, such as litecoin and bitcoin, remains the same across all the exchanges that actively trade them.
1) True
2) False
Correct Answer :- False
Question# 28 Hash can be used to validate the input.
1) True
2) False
Correct Answer :- True
Question# 29 Hyperledger allows us to customize the visibility of a transaction in a blockchain.
1) True
2) False
Correct Answer :- True
Question# 30 _ records all the transactions in a blockchain.
1) Contact
2) Block
3) Intermediaries
Correct Answer :- Block
Question# 31 Who is the founder of Hyperledger fabric?
1) Linux Foundation
2) Ethereum Developers
3) Miners in blockchain
4) R3
Correct Answer :- Linux Foundation
Question# 32 In asymmetric key cryptography, the public key is available with __.
1) sender
2) receiver
3) sender and receiver
4) everyone in the network
Correct Answer :- everyone in the network
