Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
What does the proof of work consensus mechanism achieve? O Provides a platform where miners have to pay to compete for block rewards O Flexibility
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6661ba9b81c22_7956661ba9b07e61.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6661ba9c1e7a5_7956661ba9bc1683.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6661ba9ca21e9_7966661ba9c4cb8b.jpg)
What does the proof of work consensus mechanism achieve? O Provides a platform where miners have to pay to compete for block rewards O Flexibility to switch to proof of stake consensus model O The computational power necessary to win a block reward O Creates an incentive for untrusted third parties to act honestly Confirm The push versus pull paradigm fundamentally shifts what? O The authority from a third party to the user who pushes value to the recipient O PCI compliance from the merchants to end users. O The risk of fraud from end users to merchants O The need for an end user to carefully distribute a public address Confirm How is the custody, responsibility, and control of assets different with cryptocurrency than with traditional currencies? O Users don't have a choice for how to manage their cryptocurrency O Auser who holds private keys has 100 percent custody, responsibility, and control of assets O Users still have 100 percent custody of cryptocurrency held on a centralized exchange O Users who maintain full custody of their cryptocurrency do not have to be responsible for managing it Confirm Which attribute of money relates to the ability to be the same as or interchange with any other unit? O Durability O Portability O Divisibility O Fungibility Confirm
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started