INTRO TO BLOCKCHAIN AND
CRYPTOCURRENCY CORRECT
100%
What is a digital asset? - ANSWERdigital item that you can own but will never exist
outside of the internet
Dylan is having a hard time understanding how something that is decentralized with
no authority overseeing everything can be safe and secure. What detail will help
ease his mind? - ANSWERBlockchain is a public ledger in which all transactions can
be seen and double-checked.
What best describes the relationship between blockchain technology and
cryptocurrencies? - ANSWERCryptocurrencies are built, recorded, and stored on
blockchain
Which one of the statements is true about cryptocurrency? -
ANSWERCryptocurrency is a type of digital asset that can be owned.
Which of the following is a reason why Satoshi Nakamoto created Bitcoin after the
financial crisis of 2008? - ANSWERTo avoid dealing with traditional financial
institutions.
What is the purpose of blockchain technology? - ANSWERRecord, store and track
digital information and transactions.
What is one characteristic of blockchain technology that allows a ledger to be spread
out and accessible to people all over the world? - ANSWERDistributed in a shared
network
How does a hash help secure blockchain technology? - ANSWERHashes are like
fingerprints that can make each block of data unique. Blocks form a chain that can
only have new blocks added.
How does a block of data on a blockchain get locked? - ANSWERIt gets double-
checked by the people with access to the public ledger.
Since blockchain technology is public, how are the identities of users protected? -
ANSWERUser identities are anonymous and protected by keys.
CRYPTOCURRENCY CORRECT
100%
What is a digital asset? - ANSWERdigital item that you can own but will never exist
outside of the internet
Dylan is having a hard time understanding how something that is decentralized with
no authority overseeing everything can be safe and secure. What detail will help
ease his mind? - ANSWERBlockchain is a public ledger in which all transactions can
be seen and double-checked.
What best describes the relationship between blockchain technology and
cryptocurrencies? - ANSWERCryptocurrencies are built, recorded, and stored on
blockchain
Which one of the statements is true about cryptocurrency? -
ANSWERCryptocurrency is a type of digital asset that can be owned.
Which of the following is a reason why Satoshi Nakamoto created Bitcoin after the
financial crisis of 2008? - ANSWERTo avoid dealing with traditional financial
institutions.
What is the purpose of blockchain technology? - ANSWERRecord, store and track
digital information and transactions.
What is one characteristic of blockchain technology that allows a ledger to be spread
out and accessible to people all over the world? - ANSWERDistributed in a shared
network
How does a hash help secure blockchain technology? - ANSWERHashes are like
fingerprints that can make each block of data unique. Blocks form a chain that can
only have new blocks added.
How does a block of data on a blockchain get locked? - ANSWERIt gets double-
checked by the people with access to the public ledger.
Since blockchain technology is public, how are the identities of users protected? -
ANSWERUser identities are anonymous and protected by keys.
