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Understanding Blockchain Types and Concepts

The document discusses various topics related to blockchain technology including different types of blockchains, cryptocurrencies, and blockchain platforms. It provides true/false questions to test understanding. The main types of blockchains are public, private, and consortium, with private blockchains being decentralized but more protected than public. Cryptocurrencies like Bitcoin and Ether can be used to purchase goods and their value depends on market factors like supply and demand. Blockchain platforms like Ethereum, Hyperledger, and R3 Corda have different potential use cases and architectural features.

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Ayush Garg
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347 views2 pages

Understanding Blockchain Types and Concepts

The document discusses various topics related to blockchain technology including different types of blockchains, cryptocurrencies, and blockchain platforms. It provides true/false questions to test understanding. The main types of blockchains are public, private, and consortium, with private blockchains being decentralized but more protected than public. Cryptocurrencies like Bitcoin and Ether can be used to purchase goods and their value depends on market factors like supply and demand. Blockchain platforms like Ethereum, Hyperledger, and R3 Corda have different potential use cases and architectural features.

Uploaded by

Ayush Garg
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as RTF, PDF, TXT or read online on Scribd
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1.

Bankchain is an example of private blockchain

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

3. Private Blockchain is a de-centralized type of Blockchain? F

4. Blockchain which is popularly known as ‘for the people, by the people and of the people” is public
blockchain

5. The three concepts used to explain the foundation of blockchain are Business Network, Digital Assets,
Ledger

6. Mainly how many types of blockchains have emerged after bitcoin introduced blockchain to the
world? three

7. Consortium Blockchain provides a faster and more protected ecosystem than a Private Blockchain T

8. Digital assets must always be tangible. F

9. BlockChain provides ___________ database of every transaction involving value.Open Decentralized

10. Encrypted text is also known as Cipher Text

11. Which among the following is the most flexible cryptocurrency?Ether

12. Encryption reduces data security? F

13. The two types of cryptography are Asymmetric and Symmetric

14. We can buy cryptocurrency. F

15. The value of coins ( litecoin, bitcoin) is same at a particular time. F

16. HASH can be used to validate the input? T

17. Name the first cryptocurrency with computing power contribution?Gridcoin

18. The value of cryptocurrency is independent of market conditions such as supply and demand.F

19. The higher the computational power, the lower is the difficulty in mining. F

20. The rate of generation of new bitcoins is constant. F


21. The sender and the receiver in a transaction provide miners with a fee. F

22. We may use bitcoin for purchasing merchandise as well? T

23. The output of Hashing is popularly known as Digest

24. Which among the following are the advantages of using Bitcoin? All

25. Bitcoins can be purchased in exchange of services. T

26. New bitcoins are released every time a transaction is verified. T

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

28. Which platform could gain its best use case from financial service industry?R3Corda

29. The first smart contract platform is Ethereum

30. Ether provides greater flexibility than Bitcoin does. T

31. Ethereum is a digital currency. F

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

Coincap is a budding cryptocurrency False

Smart Contracts are reversible False

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