Bitcoin Basics

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Bitcoin Basics

1. Name the original cryptocurrency?

1 point

Dogecoin

Bitcoin

Bytecoin

Digicoin

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2. Who invented Bitcoin?

1 point

Central Intelligence Agency (CIA)

Fusajiro Yamauchi

Hayao Miyazaki

Satoshi Nakamoto

Hikaru Nakamura

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3. What was one of the problems that Bitcoin solved?

1 point

Double Spending

Quantum Gravity

Global Warming

Hodge Conjecture

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4. This type of ledger is replicated and stored across multiple locations instead of a single central location.

1 point

Distributed Ledger

Centralized Ledger

Digital Ledger

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5. The Bitcoin software is open source which means...

1 point

The software code is freely available on the Internet. The code can be copied, modified or deleted by other users

The software code uses the proprietary and closely guarded code. Only the original authors of software can access, copy, and alter that software

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6. The Bitcoin ______ is the set of rules that define how the Bitcoin system operates.

1 point

network

protocol

node

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7. If a computer is connected to the internet and starts running the Bitcoin software, it becomes part of the Bitcoin _______..

1 point

protocol

node

network

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8. What is the unit of currency for the Bitcoin system called?

1 point

Bitcoin

bitcoin

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9. What is the maximum number of bitcoins that can be created?

1 point

2.1 million

Unlimted

100 million

84 million

21 million

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10. A blockchain is...

1 point

A special type of database, a way of storing digital information or "data" across multiple computers in a way that makes it impossible to change.

A neighborhood block party that's off the chain

A gold necklace decorated in diamond cubes

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11. The data in a blockchain gets stored in ________ .

1 point

Boxes

Blocks

Ice

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12. A blockchain is "append-only", meaning that new data can be added, but existing data can't be altered or deleted

1 point

False

True

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13. The "length" of a blockchain is known as its __________ .

1 point

Block size

Block height

Block weight

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14. The information on a blockchain is known as "immutable" Immutability means:

1 point

The information is tamper-resistant.

The information is a mutant.

The information is invincible.

The information is invisible.

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15. Without the blockchain, there would be no Bitcoin.

1 point

False

True

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16. What does a block contain?

1 point

A batch of confirmed transactions.

A batch of pending transactions.

A bunch of bitcoins.

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17. What is a ledger?

1 point

A narrow horizontal surface projecting from a wall.

A sequential record of transactions.

An individual transaction.

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18. What is a distributed ledger?

1 point

A tool to fix shelves.

A ledger that is replicated and shared among multiple participants.

A ledger that controlled by a single authority.

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19. What makes the blockchain special?

1 point

The blockchain killed the need for centralized ownership and control of digital data.

The blockchain made teleportation possible.

The blockchain converted paper money into electronic money.

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