Blockchain Detailed Questions And Expert Answers || Ace The Test
6 views 0 purchase
Course
Blockchain
Institution
Blockchain
What is blockchain technology? - Correct Answer a record of transactions, like a traditional ledger or a distributed ledger of transactions. The cryptographic database is maintained by a network of computers, each of which stores a copy of the most up-to-date version. It provides a simple, secure...
Blockchain Detailed Questions And Expert Answers || Ace The Test
What is blockchain technology? - Correct Answer a record of transactions, like a traditional ledger or a
distributed ledger of transactions. The cryptographic database is maintained by a network of computers,
each of which stores a copy of the most up-to-date version. It provides a simple, secure way to establish
trust for virtually any type of transaction, helping simplify the movement of money, products, or
sensitive information worldwide.
Blockchains lineage (where it came from/ first used) - Correct Answer It was initially created to support
the cryptocurrency Bitcoin.
How does blockchain technology work - Correct Answer A blockchain gathers and orders data into
blocks, and then chains them together securely using cryptography.
Blocks - Correct Answer Time stamped transactions that are joined in a chain, When a block is
complete, it also gets its own time stamp. So all information is sequential to avoid duplicate entries.
Nodes - Correct Answer a set of rules that dictate how the computers in the network
Encryption - Correct Answer The process of converting normal messages (plain text) into meaningless
message (ciphertext), Public Key
Decryption - Correct Answer The process of converting meaningless messages into normal messages,
Private Key
Digital Signature - Correct Answer an encrypted form of electronic ID.
Hash - Correct Answer The key to a blockchain's security. It's a bit of cryptographic math that makes the
links between blocks virtually unbreakable by taking information from each block.
Address - Correct Answer a string of data that is publicly viewable on the blockchain.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victoria108. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
