Blockchain Developer Test 2

Question 1

What does the acronym IPFS mean?

Accepted Answer

Interplanetary Filing System

Answer

IPFS stands for InterPlanetary File System. It is a peer-to-peer network protocol designed to create a decentralized and distributed method of storing and sharing files. Unlike traditional web protocols that locate information by its location, IPFS locates content by its hash, making it more resilient, efficient, and censorship-resistant.

Question 2

What location do you keep your cryptocurrency?

Accepted Answer

Wallet

Answer

Cryptocurrency is stored in a digital 'wallet,' which is a software program or physical device that manages your public and private keys. These keys are essential for accessing and transacting with your digital assets on the blockchain. The wallet itself doesn't hold the currency, but rather the cryptographic information needed to control it.

Question 3

A Dash Masternode is what?

Accepted Answer

A node that offers extra network supervision services

Answer

A Dash Masternode is a specialized full node on the Dash blockchain that provides advanced services beyond basic transaction relaying. These services include InstantSend for instant transactions, PrivateSend for enhanced privacy, and governance functions, allowing Masternode owners to vote on network proposals. Operating a Masternode requires a significant collateral of Dash, incentivizing network stability and reliability.

Question 4

What quality does Blockchain have that makes it tamper-proof?

Accepted Answer

Immutability

Answer

Blockchain's tamper-proof quality is due to its immutability. Once a transaction or record is added to a block and that block is appended to the chain, it cannot be altered or deleted. This is enforced by cryptographic hashing and the distributed nature of the ledger, where any attempt to change a past record would invalidate subsequent blocks and be rejected by the network.

Question 5

Who has access to a record that is stored on a blockchain?

Accepted Answer

Simultaneously, multiple persons.

Answer

Records stored on a public blockchain are accessible to all participants in the network simultaneously. This transparency is a fundamental characteristic, meaning that multiple individuals can view and verify the entire ledger at any given time. This distributed access ensures that all parties have an identical, verifiable copy of the transaction history.

Blockchain Practice Test

Blockchain Practice Test

Blockchain Developer Test 2