Blockchain Bank PO MCQ Questions With Answers Quiz Questions

1. Which of the following better describes what blockchain is?

A Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. B Blockchain is a private, mutable ledger that protects the process of recording transactions and storing assets in a business network. C Blockchain is a controlled, updatable ledger that encapsulates the process of keeping transactions secret without tracking assets in a business network. D Blockchain is a costly, protected ledger that simulates the process of formulating transactions, so it sells assets in a business network.

2. Once records are submitted on a blockchain, can they be altered?

A Yes – the parties can go back in and alter them at any time. B Yes – but only within a certain time frame. C No – they cannot be altered. D None of these

3. Bitcoin and blockchain are basically the same.

A True B False

4. All blockchains are built for business only.

A True B False

5. When a record is on a blockchain, who can access it?

A Multiple people simultaneously. B One person at a time. C Only the people involved in the transaction.

6. Everyone knows who is Satoshi Nakamoto.

A True B False

7. Are blockchain fully public?

A Yes B No C It depends

8. Blockchain provides the means to record and store Bitcoin transactions. So, blockchain is mostly used for Bitcoin.

A True, as Bitcoin is the first use case for blockchain. B False, as Bitcoin is only the first use case for blockchain.

9. Bitcoin — the digital currency launched in 2009 by ....

A Satoshi Nakamoto B China C A group of hackers D The European Bank

10. Blockchain owes its name to ...

A the way money travels B a prisoner who was innocent C its creator, because he lived in a big block D the way it stores transaction data — in blocks that are linked together to form a chain.

11. Who is a miner

A A type of blockchain B An algorithm that predicts the next part of the chain C Computers that validate and process blockchain transactions D A person doing calculations to verify a transaction