Blockchain - Potentes Nexus MCQs Solution | TCS Fresco Play
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1. Bankchain is an example of ____
a. Private
2. Bitcoin network would make it impossible to bypass the traditional financial intermediaries
a. False
3. Blockchain which is popularly known as ‘for the people, by the people and of the people” is ___________.
a. Public Blockchain
4. Mainly how many types of blockchains have emerged after bitcoin introduced blockchain to the world?
a. Three
5. What is cryptography ?
a. It is a technique which converts plain text into an encrypted text, thus making it difficult for a third party to manipulate the data.
6. Types of Cryptography ?
a. Symmetric
b. Asymmetric
7. The value of coins ( litecoin, bitcoin) is same at a particular time.
a. False
8. The two types of cryptography are ______________.
a. Asymmetric and Symmetric
9. The value of cryptocurrency is independent of market conditions such as supply and demand.
a. False
10. Which among the following is the most flexible cryptocurrency?
a. Ether
11. Which among the following are the advantages of using Bitcoin?
a. All the options
12. Bitcoins can be purchased in exchange of services.
a. True
13. The output of Hashing is popularly known as _______ .
a. Digest
14. We may use bitcoin for purchasing merchandise as well?
a. True
15. Smart contract in Bitcoin validates transaction only if certain predefined conditions are met whereas ''Ethereum'' allows developers to program their own smart contracts.
Ethereum
· Permissionless and generic Blockchain platform
· Governed by Ethereum developers
· Mining based on Proof of Work (POW)
· Consensus approached at Ledger level
Hyperledger
· Modular and permissioned platform
· Governed by Linux foundation
· Multiple consensus approaches - at transaction level
R3 Corda
· Specialized distributed and permissioned ledger platform
· Governed by R3
· Specific consensus at transaction level
16. Which platform could gain its best use case from financial service industry?
a. R3 Corda
17. The first smart contract platform is _______.
a. Ethereum
18. New bitcoins are released every time a transaction is verified
a. True
19. Which of the following platform(s) provides a modular architecture?
a. Hyperledger
20. Name the first cryptocurrency with computing power contribution?
a. Gridcoin
21. Where can you buy a cryptocurrency?
a. All the options
22. Ripple is an example of _________.
a. Public Blockchain
23. A transaction without verification in bitcoin could be fastest accomplished in how much time?
a. Instantaneous
24. HASH can be used to validate the input.
a. True
25. One bitcoin could be divided down to ____ decimal point?
a. 8
26. Blockchain could soon replace central banks?
a. False
27. Bitcoin is an example of which type of blockchain?
a. Public Blockchain
28. The higher the computational power, the lower is the difficulty in mining.
a. True
29. The first smart contract platform is _______.
a. Ethereum
30. Who is the founder of Hyperledger fabric?
a. Linux Foundation
31. How many types of blockchains have emerged after bitcoin introduced blockchain to the world?
a. 3
32. Private Blockchain allows organizations who have privacy and compliance regulations to implement Blockchain.
a. True
33. Coincap is a budding cryptocurrency
a. False
34. Bitcoin is __________.
a. Peer to peer currency
35. Private Blockchain is a de-centralized type of Blockchain?
a. False
36. Blockchain could prevent robustness and transparency in the post – trade environment.
a. False
37. China and Russia were amongst the first few countries to promote bitcoin in their economy?
a. True
38. The value of coins (litecoin, bitcoin) is same at a particular time.
a. False
39. Which platform could gain its best use case from supply chain industry?
a. R3 corda
40. The rate of generation of new bitcoins is constant.
a. False
41. The value of cryptocurrency is independent of market conditions such as supply and demand.
a. False
42. Currencies other than Bitcoin such as Lite coin and Dash are popularly known as ___________.
a. Cryptocurrency
43. The sender and the receiver in a transaction provide miners with a fee
a. True
44. New bitcoins are released every time a transaction is verified
a. True
45. _____________ is popularly known as DLT with a difference.
a. R3 Corda
46. Who is a miner?
a. Computers that validate and process blockchain transactions.
47. Both ________ and ________ automatically check your previous transactions to make sure you have enough bitcoins to send.
a. Bitcoin Network and your Wallet à incorrect
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