CBBF Online Practice Questions and Answers

Blockchains are being implemented in the food supply chain because_____________.

A. consumers demand to know where their food comes from

B. it allows farm to table accountability for safety

C. they have the potential to provide fast, specific supplier data

D. it prevents food waste if a food contamination problem occurs

E. All of the above

Which of the following statements sums up the Proof of Work consensus process?

A. Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.

B. Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.

C. All nodes agree on the data of the transaction.

D. Miners send assets to an inactive address. This process selects the next owner of a block.

A Blockchain does NOT provide which attribute?

A. Security through distribution

B. Anonymity through cryptography

C. Fault Tolerance through distribution

D. Immutability through hashing

Smart Contracts DO NOT provide_______________.

A. Authority

B. Anonymity

C. Efficiency

D. Accuracy

The Blockchain combined with the Internet of Things (IoT) will dramatically ____________.

A. increase the use of cryptocurrency

B. speed up the internet

C. make Bitcoin less expensive

D. increase device connectivity

What is a Blockchain?

A. A digital currency

B. An unchangeable record

C. A database of usable secret data

D. A Smart Contract

E. All of the above

Cryptocurrencies are a security regulated by the Securities and Exchange Commission.

A. True

B. False

A Blockchain provides______________.

A. true information by all parties involved

B. a trusted transaction between untrusted parties

C. the easiest way to conduct international transactions

D. only trusted banks for conducting transactions

Which type of data can be stored on a Blockchain?

A. A financial transaction

B. A vote cast in an election

C. A personal medical record

D. Romeo and Juliet: The entire play

E. All of the above

Which of the following problems did Blockchain solve for cryptocurrencies?

A. Anonymity

B. Double Spending

C. Destination of currencies

D. None of the above