Blockchain Knowledge Test
Test your understanding of distributed ledgers and cryptographic security.
What is the primary purpose of a cryptographic hash in a blockchain?
Correct! Hashes ensure data integrity by creating a unique digital fingerprint for every block.
Which consensus mechanism is most commonly used in Bitcoin?
Incorrect. Bitcoin uses Proof of Work. This mechanism requires miners to solve complex mathematical puzzles to validate blocks.
What is a 'node' in a blockchain network?
Correct! A node is a computer that stores a copy of the ledger and participates in consensus.
How does a blockchain achieve tamper evidence?
Correct! Each block contains a hash of the previous block, creating a chain that is extremely difficult to alter without detection.
What is a 'distributed ledger'?
Correct! A distributed ledger is a shared record of transactions that is maintained by a network of nodes.
What is the main advantage of blockchain for supply chain?
Correct! Blockchain provides a transparent and immutable record of every step in the supply chain.
What is a 'smart contract'?
Correct! A smart contract is a self-executing program that automatically enforces the terms of an agreement.
What is a limitation of blockchain technology?
Correct! Scalability and energy consumption are significant challenges for current blockchain networks.