Blockchain - Potentes Nexus Fresco Play MCQs Answers

Blockchain - Potentes Nexus Fresco Play MCQs Answers

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Get Yourself Evaluated

1.Blockchain provides ___________ kind of database for every transaction involving value.

1. Open Centralized
2. Closed Decentralized
3. Open Decentralized
4. Closed Centralized

Answer: 3)Open Decentralized

2.The three concepts used to explain the foundation of blockchain are __________________.

1. Digital Ledger, Physical Assets, Banks
2. Ledger, Bitcoins, Digital Identity
3. Business Network, Ledger, Physical Assets
4. Distributed Network, Cryptography , Public Ledger

Answer: 4)Distributed Network, Cryptography , Public Ledger

3.Blockchain which is popularly known as ‘for the people, by the people and of the people” is ___________.

1. Private Blockchain
2. Federated Blockchain
3. Public Blockchain

Answer: 3)Public Blockchain

4.Blockchain network would make it impossible to bypass the traditional financial intermediaries.

1. False
2. True

Answer: 1)False

5.Consortium blockchain has a predefined set of nodes allowing the users to write the data.

1. True
2. False

Answer: 1)True

Get Yourself Evaluated

1.Cryptocurrency is authorized in all countries.

1. True
2. False

Answer: 2)False

2.Blocks are created in the blockchain network post consensus is achieved.

1. True
2. False

Answer: 1)True

3.The two types of cryptography are ______________.

1. Symmetric and Public
2. Asymmetric and Public
3. Asymmetric and Symmetric
4. Public and Private

Answer: 3)Asymmetric and Symmetric

4.Hash is used to ensure integrity of the data transmitted in the blockchain network.

1. False
2. Sometimes yes
3. True

Answer: 3)True

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Get Yourself Evaluated

1.Bitcoins can be purchased in exchange of services.

1. True
2. False

Answer: 1)True

2.The sender and the receiver in a transaction always provide miners with a fee.

1. True
2. False

Answer: 2)False

3.Bitcoin is a type of public blockchain.

1. False
2. True

Answer: 2)True

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

1. Can be used to transfer money anywhere in the world.
2. All the options
3. Your account cannot be frozen.
4. Negligible transaction fee

Answer: 2)All the options

Get Yourself Evaluated

1.Which of the following platform(s) provides a modular architecture?

1. Hyperledger
2. Ethereum and R3 Corda
3. R3 Corda
4. Ethereum

Answer: 1)Hyperledger

2.Smart contracts enable control of digital currency transfer between sender and receiver based on certain defined rules and conditions.

1. False
2. True
3. Sometime yes

Answer: 2)True

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

1. Ethereum
2. Hyperledger
3. R3 Corda
4. All the options

Answer: 3)R3 Corda

4.Which platform could gain its best use case from supply chain industry?

1. Ethereum
2. All the options
3. R3 Corda
4. Hyperledger

Answer: 4)Hyperledger

Let's Wind the Party!

1.The value of coins, such as litecoin and bitcoin, remains the same across all the exchanges that actively trade them.

1. True
2. False

Answer: 2)False

2.If authorized, blockchain could replace central banks.

1. False
2. True

Answer: 2)True

3.Smart Contracts are reversible.

1. False
2. True

Answer: 1)False

4.If authorized, bitcoins can be used to purchase merchandise.

1. False
2. True

Answer: 2)True

5.We are authorized to buy cryptocurrency in all countries.

1. False
2. True

Answer: 1)False

6.Blockchain which is popularly known as ‘for the people, by the people and of the people” is ___________.

1. Federated Blockchain
2. Public Blockchain
3. Private Blockchain

Answer: 2)Public Blockchain

7.Ethereum is a digital currency.

1. True
2. False

Answer: 2)False

8.Blockchain provides visibility to the user, thus imposing a more significant potential for cyber risk.

1. True
2. False

Answer: 2)False

9._______ records all the transactions in a blockchain.

1. Block
2. Contact
3. Intermediaries

Answer: 1)Block

10.Computational power adjusts the level of difficulty in mining.

1. True
2. False

Answer: 1)True

11.Private blockchain helps organizations with privacy and compliance regulations to implement blockchain.

1. True
2. False

Answer: 1)True

12.The value of cryptocurrency is dependent on market conditions.

1. True
2. False

Answer: 1)True

13.Which platform could gain its best use case from supply chain industry?

1. Hyperledger
2. R3 Corda
3. All the options
4. Ethereum

Answer: 1)Hyperledger

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

1. Hyperledger
2. Ethereum
3. R3 Corda
4. All the options

Answer: 3)R3 Corda

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

1. True
2. False

Answer: 2)False

16.Who is a miner?

1. An algorithm that predicts the next part of the chain.
2. Computers that validate and process blockchain transactions.
3. A type of blockchain.

Answer: 2)Computers that validate and process blockchain transactions.

17._____________ is popularly known as DLT with a difference.

1. Ethereum
2. R3 corda
3. Hyperledger

Answer: 2)R3 corda

18.The sender and the receiver of a transaction always provide miners with a fee.

1. False
2. True

Answer: 1)False

19.Bitcoins can be purchased in exchange of services.

1. False
2. True

Answer: 1)True

20.Crypto analysis is used ___________.

1. to find some insecurity in a cryptographic scheme
2. to encrypt the data
3. None of the options
4. to increase the speed

Answer: 1)to find some insecurity in a cryptographic scheme

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