Quiz Start

What is the primary function of blockchain technology?

a. To enable smart contracts without the need for third parties.

b. To act as a central database for banks.

c. To facilitate rapid file-sharing between individuals.

d. To create and manage digital currencies only.

Which of the following is NOT a characteristic of blockchain technology?

a. Decentralization

b. Transparency

c. Anonymity

d. Centralized control

How does blockchain ensure the security of its data?

a. Through centralized administrative oversight.

b. By using a single server's database.

c. Through cryptographic hashing and a decentralized consensus mechanism.

d. By allowing unrestricted access to data.

Which consensus mechanism is known for being particularly energy-intensive?

a. Proof of Stake (PoS)

b. Proof of Authority (PoA)

c. Proof of Work (PoW)

d. Delegated Proof of Stake (DPoS)

Which application of blockchain technology is primarily used to facilitate transparency and traceability in supply chains?

a. Smart contracts

b. Cryptocurrency transactions

c. Supply chain management

d. Digital identity verification