What is a consensus mechanism?

a$.$

A process for identifying the majority opinion

b$.$

A process for reaching a compromise

c$.$

A process for agreeing on a shared state in a distributed system

d$.$

A process for enforcing rules and regulations

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What is the purpose of a consensus mechanism in a blockchain system?

a$.$

To verify the identity of users

b$.$

To ensure the security of the system

c$.$

To store data in a decentralised manner

d$.$

To facilitate fast transactions

Which of the following is a feature of a Proof of Work consensus mechanism?

a$.$

Low energy consumption

b$.$

Low processing power requirements

c$.$

High security

d$.$

Low transaction fees

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Which of the following is a feature of a Proof of Stake consensus mechanism?

a$.$

High energy consumption

b$.$

High processing power requirements

c$.$

Low security

d$.$

Low transaction fees

Which consensus mechanism does Bitcoin use?

a$.$

Proof of Stake

b$.$

Proof of Work

c$.$

Delegated Proof of Stake

d$.$

Practical Byzantine Fault Tolerance

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What is the primary benefit of a more decentralised consensus mechanism?

a$.$

Faster transaction processing

b$.$

Greater security

c$.$

Lower energy consumption

d$.$

Greater scalability

What industry can benefit from using distributed consensus to enable peer$-$to$-$peer energy trading?

a$.$

Banking

b$.$

Healthcare

c$.$

Energy

d$.$

Education

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Which industry can benefit from using distributed consensus to manage ownership and distribution of digital content?

a$.$

Travel

b$.$

Education

c$.$

Art

d$.$

Energy

What is the primary function of Nakamoto Consensus?

a$.$

To verify the authenticity of transactions

b$.$

To create new coins

c$.$

To maintain the blockchain and prevent double$-$spending

d$.$

To facilitate faster transaction confirmations

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What is the role of the cryptographic puzzle in Nakamoto Consensus?

a$.$

To verify the authenticity of transactions

b$.$

To create new coins

c$.$

To maintain the blockchain and prevent double$-$spending

d$.$

To prevent miners from adding fraudulent blocks to the blockchain

What is proof of work?

a$.$

A consensus algorithm used in blockchain technology.

b$.$

A type of digital signature

c$.$

A method of encrypting data

d$.$

A way to store data on a blockchain

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What is the purpose of proof of work in blockchain technology?

a$.$

To create new coins or tokens

b$.$

To validate transactions and prevent double$-$spending

c$.$

To encrypt data on the blockchain

d$.$

To increase the speed of block creation

In a PoS consensus algorithm, validators are chosen based on:

a$.$

Their ability to solve complex mathematical problems

b$.$

The amount of cryptocurrency they hold and stake on the network

c$.$

Their reputation within the community

d$.$

Their ability to provide proof of work

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Which of the following is a potential disadvantage of PoS networks?

a$.$

They are susceptible to $51\%$ attacks

b$.$

They require expensive mining equipment and electricity costs

c$.$

They rely on the honesty of validators

d$.$

They have a slower block time than PoW networks

What is Proof of Burn?

a$.$

A consensus mechanism used to validate new blocks in a blockchain

b$.$

A way to distribute tokens or coins in a fair and decentralised manner

c$.$

A process of sending cryptocurrency to a burn address to destroy it

d$.$

All of the above

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Which cryptocurrency was the first to use Proof of Burn?

a$.$

Bitcoin

b$.$

Ethereum

c$.$

Slimcoin

d$.$

Factom

Who adjusts the difficulty level in a blockchain network?

a$.$

Miners

b$.$

Developers

c$.$

Users

d$.$

The network's protocol

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How often is the difficulty level typically adjusted on the Bitcoin network?

a$.$

Every $144$ blocks

b$.$

Every $2016$ blocks

c$.$

Every $10$ minutes

d$.$

Every hour

Which of the following techniques can be used to prevent Sybil attacks?

a$.$

Reputation systems

b$.$

Proof$-$of$-$work

c$.$

Proof$-$of$-$stake

d$.$

All of the above

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Why are Sybil attacks difficult to detect?

a$.$

Because they involve stealing private information

b$.$

Because they are launched by bots

c$.$

Because the fake identities appear to be legitimate users

d$.$

Because they only affect large networks