7. Question 7 How would you characterize the proof-of-work consensus protocol that’s used by so many blockchain implementations? 1 / 1 point An economic deterrence to easy double-spend attacks One of…
6. Question 6 What is the main purpose of solving the hashing puzzle in Bitcoin’s proof-of-work consensus algorithm? 1 / 1 point To prove that the node has computing power To…
5. Question 5 How would one perform a major “software update” to the Bitcoin or Ethereum protocols that significantly improves their functionality? 1 point Create a fork in the…
2. Question 2 Which of the following statements, can be turned into a smart contract on Ethereum? Please select all that apply. 1 point “Transfer 5 ETH from Bob’s…
1. Question 1 Which one of the following words best summarizes the nature of smart contracts? 1 / 1 point Code Smart Trustless Contract Standardized
8. Question 8 What are the possible incentives that a new blockchain system can offer to induce nodes/miners to participate? Please select all that apply. 1 / 1 point The right to…
4. Question 4 What is the main difference between Ethereum and Bitcoin? 1 / 1 point As a blockchain, Ethereum can execute significantly more complicated tasks than Bitcoin Ethereum is a…
3. Question 3 Among all the consensus mechanisms that we discussed in class, which of them are the MOST costly to manipulate? 1 / 1 point Random consensus Proof-of-Work Proof-of-stake
9. Question 9 What is the role of transaction fees in public blockchains such as Bitcoin and Ethereum? 1 / 1 point In practice, one does not need to pay a transaction…
1. Question 1 What is the primary difference between a crypto “coin” and a crypto “token”? 1 point A coin uses computationally intensive “mining” procedures such as proof-of-work while…
