Which attribute of money is unique to cryptocurrency? O It is a fungible store of value which serves as a medium of exchange. O It can be divided into smaller portions and used for different sizes of transaction. O It is a predictable, fixed monetary supply. O It is durable and able to provide a lasting store of value. Association of International Certified Professional Accountants + The unified voice of AICPA ar 32 32 What is the primary difference between cryptocurrency and a blockchain? O Cryptocurrency is a medium of exchange, but blockchains are a store of value. Cryptocurrency is a new type of money, and blockchains are the enabling technology. O Blockchains are cryptographically secure and cryptocurrency is not. Blockchains are not related to cryptocurrency. Association of International Certified Professional Accountants + The unified voice of AICPA ar 32 What accurately describes Bitcoin? O Bitcoin is a cryptocurrency that provides a stable unit of account. Bitcoin was created as a way to pay for goods and services on the black market. O Bitcoin may not be used as a medium of exchange. O Bitcoin was the first example of blockchain technology. Association of International Certified Professional Accountants + The unified voice of AICPA a 32 How might blockchain technology potentially address a common business need? O The need for liquidity - being able to send value to anyone in the world 24/7 without being constrained by banking hours. O Eliminating all types of fraud in all business applications. O Reducing the need for third parties from many to just one. K O Verifying transactions by having to ask only the condor Association of International Certified Professional Accountants + 32 The unified voice of AICPA ar Which is not a core component of blockchain technology? A peer-to-peer network. OA common ledger. A consensus mechanism. OA fixed monetary supply. Confirm Click the forward arrow to continue. What is the unique value proposition of public-key cryptography? O Bitcoin miners need both the public and private keys to validate a transaction. O The person sending cryptocurrency never reveals the private key. O Private keys are mathematically derived from public keys. O A public address is susceptible to theft of cryptocurrency. Association of International Certified Professional Accountants + The unified voice of AICPA ar 32 What does the proof of work consensus mechanism achieve? 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. Association of International Certified Professional Accountants + The unified voice of AICPA 32