Blockchain – Potentes Nexus Interview Question-Answer

Q.1 Blockchain provides ___________ kind of database for every transaction involving value.

       A. Closed Decentralized

       B. Open Decentralized

       C. Closed Centralized

       D. Open Centralized

Ans : Open Decentralized


Q.2 The three concepts used to explain the foundation of blockchain are __________________.

       A. Digital Ledger, Physical Assets, Banks

       B. Distributed Network, Cryptography , Public Ledger

       C. Ledger, Bitcoins, Digital Identity

       D. Business Network, Ledger, Physical Assets

Ans : Distributed Network, Cryptography , Public Ledger


Q.3 Consortium blockchain has a predefined set of nodes allowing the users to write the data.

       A. True

       B. False

Ans : True


Q.4 Private blockchain is a de-centralized type of blockchain?

       A. True

       B. False

Ans : False


Q.5 Hash is used to ensure integrity of the data transmitted in the blockchain network.

       A. True

       B. False

Ans : True


Q.6 Cryptocurrency is authorized in all countries.

       A. True

       B. False

Ans : False


Q.7 Encryption reduces data security?

       A. True

       B. False

Ans : False


Q.8 In bitcoin mining, the computational power adjusts the difficulty level of mining.

       A. True

       B. False

Ans : True


Q.9 The sender and the receiver in a transaction always provide miners with a fee.

       A. True

       B. False

Ans : False


Q.10 The two types of cryptography are ______________.

       A. Asymmetric and Symmetric

       B. Asymmetric and Public

       C. Public and Private

       D. Symmetric and Public

Ans : Asymmetric and Symmetric


Q.11 The output of hashing is popularly known as _______.

       A. Digital Signature

       B. Plain text

       C. Contract

       D. Digest

Ans : Digest


Q.12 Which among the following are the advantages of using Bitcoin?

       A. Negligible transaction fee

       B. Your account cannot be frozen

       C. Can be used to transfer money anywhere in the world

       D. All the options

Ans : All the options


Q.13 Which platform could gain its best use case from supply chain industry?

       A. R3 Corda

       B. Ethereum

       C. Hyperledger

       D. All the options

Ans : Hyperledger


Q.14 Which of the following platform(s) provides a modular architecture?

       A. Hyperledger

       B. Ethereum

       C. Ethereum and R3 Corda

       D. R3 Corda

Ans : Hyperledger


Q.15 The first smart contract platform is _______.

       A. R3 Corda

       B. Hyperledger Fabric

       C. Blockchain

       D. Ethereum

Ans : Ethereum


Q.16 Where can you buy a cryptocurrency?

       A. In a smart contract

       B. Cryptocurrency Exchanges

       C. Through a private transaction

       D. All the options

Ans : Cryptocurrency Exchanges


Q.17 Ethereum is a digital currency.

       A. True

       B. False

Ans : False


Q.18 Crypto analysis is used ___________.

       A. to encrypt the data

       B. to find some insecurity in a cryptographic scheme

       C. to increase the speed

       D. None of the options

Ans : to find some insecurity in a cryptographic scheme


Q.19 Which among the following option/options is/are consensus algorithms?

       A. PoS

       B. Byzantine

       C. PoW

       D. All of the options

Ans : All of the options


Q.20 New bitcoins are released every time a transaction is verified.

       A. True

       B. False

Ans : True


Q.21 Ether provides greater flexibility than bitcoin.

       A. True

       B. False

Ans : True


Q.22 Which among the following is the most flexible cryptocurrency?

       A. Ripple

       B. Bitcoin

       C. Ether

       D. Litecoin

Ans : Ether


Q.23 Which platform could gain its best use case from financial service industry?

       A. Hyperledger

       B. R3 Corda

       C. Ethereum

       D. All the options

Ans : All the options


Q.24 ________ is checked for your previous transactions to determine your wallet balance.

       A. Bitcoin Network and your Wallet

       B. Ledger

       C. Miners and Users

Ans : Ledger


Q.25 Bitcoin network would make it impossible to bypass the traditional financial intermediaries.

       A. True

       B. False

Ans : False


Q.26 Cyptocurrency is the only use case of blockchain.

       A. True

       B. False

Ans : False


Q.27 The value of coins, such as litecoin and bitcoin, remains the same across all the exchanges that actively trade them.

       A. True

       B. False

Ans : False


Q.28 Hash can be used to validate the input.

       A. True

       B. False

Ans : True


Q.29 Hyperledger allows us to customize the visibility of a transaction in a blockchain.

       A. True

       B. False

Ans : True


Q.30 _______ records all the transactions in a blockchain.

       A. Contact

       B. Block

       C. Intermediaries

Ans : Block


Q.31 Who is the founder of Hyperledger fabric?

       A. Linux Foundation

       B. Ethereum Developers

       C. Miners in blockchain

       D. R3

Ans : Linux Foundation


Q.32 In asymmetric key cryptography, the public key is available with ________.

       A. sender

       B. receiver

       C. sender and receiver

       D. everyone in the network

Ans : everyone in the network


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