CBBF Online Practice Questions and Answers

What does P2P stand for?

A. Person to Person

B. Public to Person

C. Peer to Peer

D. Product to Person

E. None of the above

Which of the following statements sums up the Proof of Work consensus process?

A. Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.

B. Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.

C. All nodes agree on the data of the transaction.

D. Miners send assets to an inactive address. This process selects the next owner of a block.

Once a record is stored on the Blockchain ____________.

A. the record is moved to a secure server

B. the record is stored on a central node

C. it can be changed by an authorized person

D. the record is permanent

In a private business Blockchain, transactions are endorsed by______________.

A. only relevant business participants

B. only the smart contract developer

C. all the nodes on the Blockchain

D. all participants with access to the network

What is the focus or primary goal of a private Blockchain? Select all that apply.

A. To provide anonymity in business

B. To save money by eliminating intermediaries

C. To create a distributed database that allows for CRUD

D. To provide transparency and trust for business while remaining secure

How much data can be represented by the data hash of a block?

A. a maximum of 20 MB

B. virtually any amount

C. not to exceed 100k bytes

D. the hash is only a memory location

What is a node in a Blockchain? Select all that apply.

A. A block

B. Certificate Authority

C. A miner

D. A computer running on the Blockchain

Once a record has been added to a Blockchain it can be altered.

A. True

B. False

One of the great advantages of creating a new Blockchain solution is__________.

A. the ability to completely customize a unique business solution

B. combining Blockchain technologies to fit your business solution

C. merging your existing network technology into a new Blockchain solution

D. not being limited to a conventional business solution or restriction

E. All of the above

A Blockchain provides______________.

A. true information by all parties involved

B. a trusted transaction between untrusted parties

C. the easiest way to conduct international transactions

D. only trusted banks for conducting transactions

Which of these applications would be suited for a private Blockchain?

A. financial transactions

B. manufacturing supply chain

C. medical records

D. food traceability

E. All of the above

Who can read records on a public Blockchain?

A. Everyone on the Blockchain

B. No one

C. Only the creator

D. The users with access permissions

E. None of the above

Where is a Blockchain's central server?

A. Where the Blockchain is created

B. Located with the owner of the server

C. There is no central server, it is distributed

D. Orderer Node

E. None of the above

Cryptocurrencies have all the same characteristics as fiat currencies?

A. True

B. False

What is a block?

A. A list or record of data

B. A wallet that stores digital currency

C. A pool of unconfirmed transactions

D. A list or record of certificates

E. All of the above