Blockchains began as open source, public efforts. Private blockchains were developed as corporations and other administrative bodies began to realize the benefits of distributed ledger technology, particularly within systems of a private enterprise and when managing sensitive transaction data. With increasingly robust and modular privacy and permissioning solutions, industry experts anticipate that private and public blockchain networks will converge.
A blockchain wallet contains the public key for others to transfer cryptocurrency to your address and the private key so you can securely access your own digital assets. A blockchain wallet usually accompanies node hosting and stores cryptocurrencies on your computer. The safest place for storing digital assets is offline, what is often called “cold storage.” Read “7 Pro Tips for Keeping Your Crypto Safe” for some best practices on protecting your digital assets.
As a new technology that makes use of global digital networks, the need for blockchain programmers is immense, and in recent years, programmers have flocked to the blockchain space. A key aspect that distinguishes blockchain programming from other Internet ventures is the focus on security and cryptography. ConsenSys Academy’s Developer Program offers programmers from any background the chance to become a blockchain expert in weeks. Industry experts from around the world teach the course, which focuses on Ethereum blockchain development.
Distributed ledger technology is a broad category that encompasses blockchain technology. A distributed ledger is just what its name implies. Instead of accounting for data through one centralized computer, distributed ledger technology uses many participants in a network to maintain a digital record. Blockchain technology supplements a distributed ledger with cryptographic functions and a consensus algorithm to enable greater incentive design, security, accountability, cooperation, and trust.
Q.3.
What was the first use of blockchain?
Bitcoin
Ethereum
Ripple
Tether
Q.4.
Who invented blockchain?
Satoshi Nakamoto
Joe Thuney
Tom Brady
Saoyao Mizaki
Q.5.
What is the name of Bitcoin's creator?
Satoshi Nokomoto
Santoshi Nakamoto
Satoshi Nakamoto
Satoshi Tanamoto
Q.6.
What is meant by consensus in Blockchain?
Agreement by nodes to verify a transaction
Agreement by nodes to delete a transaction
Agreement by nodes to edit a transaction
Q.7.
How many Tiers does Blockchain have?
3
4
2
0
Q.8.
What types of Cryptographic Keys does Blockchain use?
Only Public Keys
Only Private Keys
Neither of Public & Private Keys
Both Public & Private Keys
Q.9.
Is blockchain fully public?
Yes
It depends
No
Q.10.
What is a blockchain?
A distributed ledger on a peer to peer network
A type of cryptocurrency
An exchange
A centralized ledger
Q.11.
Which feature is not supported by Blockchain Technology
Distributed Peer to Peer Network
Centralized Network
Immutable Ledger
Mining
Q.12.
Where is the bitcoin central server located?
Washington DC
Undisclosed Location
London
None of these
Q.13.
Once data entered into the blockchain can be
Unchanged
Modified
Tampered
Updated
Q.14.
How does Blockchain achieve high availability?
Complex Protocol
Decentralization
Nodes never go down(offline)
Implemented on the internet
Q.15.
What are the potential applications of blockchain
voting
settling trades
health records
All Of above
Q.16.
What does proof of stake stand for ?
Proof of stake is a system of validation invented by Hal Finney, that enables bitcoin to achieve distributed consensus.
Proof of stake is the consensus algorithm used by bitcoin.
Proof of stake is a type of consensus algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age.
Proof of stake is cryptographic hash-based proof-of-work algorithm that requires a selectable amount of work to compute, but the proof can be verified efficiently.
Q.17.
A blockchain is secured by
PIN code
'hash' code
password
login
Q.18.
Which of these is not a technical characteristic of Blockchain?
Decentralized Consensus Mechanism
Editable
Data Structure
Distributed Shared Ledger
Q.19.
What was the blockchain created for?
Play games quickly
Anonymous payments
Fast travels
Smart cities
Q.20.
Is blockchain decentralized?
True
False
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