Module Quiz 2 - University of Houston, Downtown CS CYBER SECU | Detailed and Complete Solutions

Module Quiz Latest Submission Grade 100% 1. Question 1 All cryptocurrencies are anonymous and the technology makes it easier for criminals to operate. 1 / 1 point True False Correct Good! The main cryptos are only pseudonymous. That is, you can set up an address to receive illicit funds. Everybody sees the transaction. Every time you move the funds, everyone sees that too. If an address is identified as a person’s particular address, then justice is swift (given blockchain is an immutable record, you cannot say the transaction has been forged). That said, there are some cryptos that are truly anonymous. 2. Question 2 The Bitcoin and Ethereum blockchains are routinely hacked so these cryptos are not safe to use. 1 / 1 point True False Correct Well done! Exchanges are sometimes hacked but this has nothing to do with blockchain. There was a high profile story about U.S. government recovering funds that were extorted from the Colonial Pipeline. Again, this had nothing to do with blockchain hack. The criminals’ computer was broken into and they unwisely kept their private keys on the computer. Smart contracts are sometimes exploited. These are algorithms that are deployed to the Ethereum blockchain. Again, this is independent of the Ethereum blockchain and simply reflects a smart contract that is not secure. 3. Question 3 Central banks’ Central Bank Digital Currencies or CBDC have nothing to do with DeFi. 1 / 1 point