BLCN 531 / BLCN531 – MIDTERM EXAM
Question 1
What term refers to a device or software system that collects environmental information and makes
... [Show More] independent decisions.
Autonomous agent Distributed agent Isolated entity
Environment-sensing
collector
Question 2
What blockchain implementation resulted from bitcoin’s rejection of a recommendation to enhance its scripting language support?
Ethereum
Hyperledger Fabric
Multichain IOTA
Question 3
Blockchain technology provides what main benefits for the SUber dApp?
The ability to link disparate users
The ability to connect users with providers
The ability to communicate with other smart devices
the ability to communicate with other users
Question 4
What impact does blockchain technology have on brand importance of blockchain- based organizations?
Brand is most important when consumers make decisions Brand makes little difference when compare to price
Brand equates to trust
Brand is of low importance in conveying trustworthiness of transactions
Question 5
According to the video “How does bitcoin work?”, what term means that bitcoin’s distribution and exchange aren’t controlled or regulated by any government or other authority?
Distributed Unregulated Non-
monitored Decentralize d
Question 6
According to the video “How does bitcoin work?”, how long does it take to successfully process a bitcoin block?
About 5 minutes About 10 minutes Under 1 minute Under 30 seconds
Question 7
What characteristic of traditional organizations make catastrophic crashes, fraud, and security breaches possible?
Insurance
Distributed data centers
Single points of control Mainframe computing
Question 8
According to the video “How does bitcoin work?”, how often is the bitcoin network updated?
Over 100 times a day
Every minute Every hour
Over 360 time a
day
Question 9
Smart devices that can communicate with one another are connected in what type of network?
Star
Ring
Mes h
Bus
Question 10
What musical instrument did Lev Sergeyevich invent?
Theremin Saxophone
Electric
guitar
Synthesizer
Question 11
When did Satoshi predict that miners would be compensated by transaction fees alone?
When the number of miners equals the number of non- miner nodes
When the total coins created hit it pre-determined ceiling When all open mining nodes are full
When 51% of the nodes refuse to pay mining fees
Question 12
What is the result of a successful 51 percent attack?
Attackers can replace any data on the blockchain All blocks become invalid
Colluding nodes could reverse their own transaction sin a
previous block
Selected blocks become invalid
Question 13
In closing, the author stated that he expects a period of what?
Stagnation, regulation, and strife
Regulation, resistance, and lateral growth
Volatility, speculation, and misuse Growth, opportunity, and profit
Question 14
According to the video, “Binance CEO: The Future of Cryptocurrency”, what is necessary to realize the dream of cryptocurrency coins for every need?
Faster servers
Better languages Better networks
Faster blockchains
Question 15
Which country’s Committee on Bankink Trade, and Commerce release a report in 2015 that was very supportive of blockchain technology?
Germany Canada France
United
States
Question 16
What service do miners NOT provide?
Transaction validation Distribution of power Construct blocks
Solve a mathematical
puzzle
Question 17
Why can governments not successfully oversee and regulate every corner of the financial market?
Regulations on financial instruments don't work
International finance require international courts
Lack of global infrastructure
Too many actors, innovations, and products
Question 18
What extreme action can effectively “roll back time” on a blockchain to undo malicious activity?
Undo
Rege n Rese t
Fork
Question 19
Which type of blockchain is easier for regulators to monitor?
Public and
permissionless Private and permissionless Private and permissioned Public and permissioned
Question 20
Giving people control of their own data is an example of what principle that blockchain technology supports?
Stability Efficiency
Effectivene
ss
Privacy
Question21
What common theme does Lantz attribute to blockchain technology?
Trust
Privacy
Efficien cy
Security
Question 22
What consensus protocol does the bitcoin network use?
Proof os Stake (PoS) Proof of Burn (PoB)
Delegated Byzantine Fault Tolerance
(DBFT)
Proof of Work (PoW)
Question 23
What is the current problem with reaching consensus in the Bitcoin network?
Enormous energy expended
Node disagreement Key management Limited blocksize
Question 24
Lowering the barriers to participation is an example of what principle that blockchain technology supports?
Inclusio n Securit y
Privacy
Stabilit y
Question 25
What resource did many people use to look up factual data before the Internet?
Google
Encyclopedia Britannica
Local library
Farmer's Almanac
Question 26
What term describes the projection of the self to the world, along with the attributes associated with the self or its projection?
Identity
Authenticati on
Athorization Repudiation
Question 27
Airbnb, Uber, Lyft, and TaskRabbit are examples of what type of organization?
Sharing
Aggregat or
Peer-2- peer Distribute d
Question 28
What three challenges threaten to limit blockchain implementation in developing countries?
Transparency, corruption, cost
Technical, literacy, cost
Transparency, cost, corruption Technical, literacy, corruption
Question 29
According to the author, which political philosophy tends to be early adopters of cryptocurrency?
Liberal Socialist
Libertarian
Conservati ve
Question 30
How could blockchain technology help the Red Cross better serve victims of the Haiti earthquake?
By maintaining a land title registry By providing traceable relief funds
By tracking relief goods on a supply
chain
By registering people affected by the flood
Question 31
According to the video, “Devcon2: Ethereum in 25 Minutes”, what feature protects contracts from infinite loops? (i.e. solves the halting problem)
Gas State
Merkle
trees
Timeouts
Question 32
Why have governments requested software producers to include back doors?
Lower costs
Speed deployments
Bypass encryption
Bypass authentication
Question 33
Why do artists tend to earn so little money for their art?
Commodity art prices are low Art prices fluctuate
Each intermediary takes a portion of the profit as a
service charge
Art is a soft value product
Question 34
According to the video, “Devcon2: Ethereum in 25 Minutes”, the code and storage stored on the blockchain are part of what?
Ethereum blockchain mapping
Ethereum state
Ethereum blockchain history
Ethereum tree
Question 35
What prerequisite exists in Estonia that supports their move to blockchain apps?
Network infrastructure Citizen digital identities National e-currency
Supportive local
government
Question 36
According to the video, “Devcon2: Ethereum in 25 Minutes”, what is compiled bytecode that is published to the blockchain called?
Contract Block
State
Transactio n [Show Less]