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Blockchain and Cryptocurrency Test Q&S Latest Update
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Blockchain and Cryptocurrency TestQ&S Latest Update
5 Blockchain Technologies - Answer 1. Distributed
2. Consensus
3. Secured
4. Immutable
5. Provenance
3 Details of Distributed Blockchain - Answer 1. It is a distributed digital
ledger technology
2. Ledger keeps records of transaction, value, and ownership of assets
3. Copies of recording (ledger) are kept in different databases
Consensus Blockchain - Answer Everyone (or a Regulator) must validate
and approve the new transaction/block
Secured Blockchain - Answer Uses cryptography to process digital transactions or
verifiable digital signature
Immutable Blockchain - Answer Once a transaction is recorded into a block,
a block can't be changed nor deleted
, Provenance Blockchain - Answer Blocks must show connection to (fingerprint
of) prior block, keeping a trail
Cryptography - Answer converts data into a format that is unreadable for an
unauthorized user, allowing it to be transmitted without unauthorized
entities decoding it back into a readable format
3 Details of Cryptocurrency - Answer 1. digital currency that uses cryptography for
security measures.
2. each user has both public and individual private keys.
3. operates independently of a central bank
8 Details of Public Key Cryptography (PKC) - Answer 1. two keys are used.
2. This type of encryption is also called asymmetric encryption.
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