Blockchain Technology Basics Quiz

Question 1
Which of the following best describes blockchain technology?

(A) A decentralized digital ledger that maintains a secure record of transactions across multiple computers.

(B) A system exclusively used for cryptocurrency transactions.

(C) A centralized database maintained by a single organization.

(D) A protocol for secure messaging over the internet.

Question 2
What is the role of consensus mechanisms in a blockchain network?

(A) They serve as a voting system that only confirms transactions from trusted nodes.

(B) They encrypt all data to keep it hidden from users.

(C) They help validate and agree on the order of transactions without a central authority.

(D) They prevent unauthorized users from accessing the network by blocking data altogether.

Question 3
Which statement about distributed ledgers is true?

(A) They are similar to regular databases that store information in a single central location.

(B) They are used exclusively for cryptocurrency systems and cannot support other applications.

(C) They store data in multiple locations, ensuring redundancy and security.

(D) They operate by replicating a centralized ledger for backup purposes.

Question 4
How can blockchain technology be applied beyond cryptocurrency?

(A) It can be used for supply chain management, ensuring product authenticity and traceability.

(B) It is only useful for recording financial transactions and cannot manage non-financial data.

(C) It solely manages secure email communications.

(D) It can replace traditional social media platforms entirely.

Question 5
In a blockchain network, what is the importance of immutability?

(A) It means the data remains permanent, but occasional adjustments can be made through consensus.

(B) It allows users to update their transaction records at will for future benefits.

(C) It ensures that once data is entered, it cannot be altered, thereby increasing trust among users.

(D) It prevents any form of data retrieval to secure privacy.

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