Download Certified Blockchain Business Foundations.CBBF.PracticeTest.2019-06-20.33q.vcex

Vendor: Blockchain
Exam Code: CBBF
Exam Name: Certified Blockchain Business Foundations
Date: Jun 20, 2019
File Size: 18 KB

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Demo Questions

Question 1
Transparency allows_____________.
  1. a trustless system where users can be certain of a result
  2. easy iteration through the Blockchain
  3. Records on the Blockchain to never be changed
  4. users on the Blockchain to change data on the Blockchain
Correct answer: A
Explanation:
Reference: https://lisk.io/academy/blockchain-basics/benefits-of-blockchain/why-is-blockchain-trustless
Reference: https://lisk.io/academy/blockchain-basics/benefits-of-blockchain/why-is-blockchain-trustless
Question 2
Blockchain is always a better alternative to a standard database. 
  1. True
  2. False
Correct answer: B
Explanation:
Reference: https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database
Reference: https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database
Question 3
How does a private Blockchain differ from a public one? Select all that apply. 
  1. A private Blockchain does not use proof of work consensus
  2. A private Blockchain is more efficient and has faster transaction times
  3. A private Blockchain is not distributed
  4. A private Blockchain often requires the identity of users to be known
Correct answer: D
Explanation:
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Question 4
Blockchains work best when they are____________________.
  1. combined with other technologies
  2. used for financial applications
  3. used alone
  4. used as an alternative to a database
Correct answer: B
Question 5
What is a hash function?
  1. A one-way function that converts input to a unique string output
  2. A function that stores data behind a key
  3. A two-way function used for condensing information
  4. The block-ID of the block
  5. All the above
Correct answer: D
Question 6
Which of the following are practical use cases for Blockchain?
  1. Voting
  2. A video sharing website
  3. Medical records
  4. Identity management
  5. All of the above
Correct answer: E
Explanation:
Reference: https://www.mycryptopedia.com/16-promising-blockchain-use-cases/
Reference: https://www.mycryptopedia.com/16-promising-blockchain-use-cases/
Question 7
Which item(s) make up a block header?
  1. The hash of the Merkle root and the header of the previous block
  2. The hash of every transaction in a specific block and the next block
  3. The time stamp of the block and the genesis block hash
  4. The hash of the previous block
Correct answer: D
Explanation:
Reference: https://www.cryptocompare.com/coins/guides/what-is-a-block-header-in-bitcoin/
Reference: https://www.cryptocompare.com/coins/guides/what-is-a-block-header-in-bitcoin/
Question 8
How is Blockchain benefiting voting? 
  1. By revealing the identity of each voter and who or what they voted for
  2. By controlling who gets to vote
  3. By only allowing a certain number of votes per person
  4. By allowing voters to trust their vote has been counted
Correct answer: D
Question 9
Which of the following statements sums up the Proof of Work consensus process?
  1. Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.
  2. Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.
  3. All nodes agree on the data of the transaction.
  4. Miners send assets to an inactive address. This process selects the next owner of a block.
Correct answer: C
Explanation:
Reference: https://www.nichanank.com/blog/2018/5/23/consensus-algorithms-pow
Reference: https://www.nichanank.com/blog/2018/5/23/consensus-algorithms-pow
Question 10
Blockchain applications can provide____________________.
  1. the elimination of intermediaries
  2. building more trust between trusted parties
  3. collaboration between trusted parties
  4. better cooperation between banks
Correct answer: A
Question 11
Transparency allows_____________.
  1. a trustless system where users can be certain of a result
  2. easy iteration through the Blockchain
  3. Records on the Blockchain to never be changed
  4. users on the Blockchain to change data on the Blockchain
Correct answer: A
Explanation:
Reference: https://lisk.io/academy/blockchain-basics/benefits-of-blockchain/why-is-blockchain-trustless
Reference: https://lisk.io/academy/blockchain-basics/benefits-of-blockchain/why-is-blockchain-trustless
Question 12
Blockchain is always a better alternative to a standard database. 
  1. True
  2. False
Correct answer: B
Explanation:
Reference: https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database
Reference: https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database
Question 13
How does a private Blockchain differ from a public one? Select all that apply. 
  1. A private Blockchain does not use proof of work consensus
  2. A private Blockchain is more efficient and has faster transaction times
  3. A private Blockchain is not distributed
  4. A private Blockchain often requires the identity of users to be known
Correct answer: D
Explanation:
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Question 14
Blockchains work best when they are____________________.
  1. combined with other technologies
  2. used for financial applications
  3. used alone
  4. used as an alternative to a database
Correct answer: B
Question 15
What is a hash function?
  1. A one-way function that converts input to a unique string output
  2. A function that stores data behind a key
  3. A two-way function used for condensing information
  4. The block-ID of the block
  5. All the above
Correct answer: D
Question 16
Which of the following are practical use cases for Blockchain?
  1. Voting
  2. A video sharing website
  3. Medical records
  4. Identity management
  5. All of the above
Correct answer: E
Explanation:
Reference: https://www.mycryptopedia.com/16-promising-blockchain-use-cases/
Reference: https://www.mycryptopedia.com/16-promising-blockchain-use-cases/
Question 17
Which item(s) make up a block header?
  1. The hash of the Merkle root and the header of the previous block
  2. The hash of every transaction in a specific block and the next block
  3. The time stamp of the block and the genesis block hash
  4. The hash of the previous block
Correct answer: D
Explanation:
Reference: https://www.cryptocompare.com/coins/guides/what-is-a-block-header-in-bitcoin/
Reference: https://www.cryptocompare.com/coins/guides/what-is-a-block-header-in-bitcoin/
Question 18
How is Blockchain benefiting voting? 
  1. By revealing the identity of each voter and who or what they voted for
  2. By controlling who gets to vote
  3. By only allowing a certain number of votes per person
  4. By allowing voters to trust their vote has been counted
Correct answer: D
Question 19
Which of the following statements sums up the Proof of Work consensus process?
  1. Miners complete to find a nonce results in a hash that starts with a predetermined number of leading zeros.
  2. Miners put up a stake. A miner is then selected based on stake value to add a new block to the chain. If a miner adds an invalid block to the chain, that miner loses their stake.
  3. All nodes agree on the data of the transaction.
  4. Miners send assets to an inactive address. This process selects the next owner of a block.
Correct answer: C
Explanation:
Reference: https://www.nichanank.com/blog/2018/5/23/consensus-algorithms-pow
Reference: https://www.nichanank.com/blog/2018/5/23/consensus-algorithms-pow
Question 20
Blockchain applications can provide____________________.
  1. the elimination of intermediaries
  2. building more trust between trusted parties
  3. collaboration between trusted parties
  4. better cooperation between banks
Correct answer: A
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