Blockchain Technology Architecture and Platforms 4

Question 1

What problem does the Lightning Network solve for Bitcoin?

Accepted Answer

It enables fast, low-cost off-chain payments through bidirectional payment channels

Answer

The Lightning Network creates bidirectional payment channels between users so that multiple transactions can occur off-chain, settling only the final balance on Bitcoin's blockchain.

Question 2

What is a 'fork' in blockchain, and what distinguishes a hard fork from a soft fork?

Accepted Answer

A hard fork creates an incompatible protocol change requiring all nodes to upgrade, while a soft fork is backward-compatible

Answer

A hard fork introduces rule changes that make old nodes incompatible, potentially splitting the chain, while a soft fork tightens rules in a backward-compatible way.

Question 3

What is 'chain reorganization' (reorg) in a blockchain network?

Accepted Answer

When a longer competing chain causes the network to replace a portion of the canonical chain

Answer

A chain reorganization occurs when a newly discovered chain with more cumulative work (or stake) replaces the current canonical chain, reverting recent blocks.

Question 4

Which architectural pattern does Cosmos use to achieve blockchain interoperability?

Accepted Answer

The Inter-Blockchain Communication (IBC) protocol connecting sovereign chains via hubs

Answer

Cosmos uses the Inter-Blockchain Communication (IBC) protocol to allow independent blockchains (zones) to transfer tokens and data through hub blockchains.

Question 5

What is an 'oracle' in the context of smart contract architecture?

Accepted Answer

A service that provides off-chain real-world data to on-chain smart contracts

Answer

Oracles bridge the gap between blockchains and the external world by feeding real-world data (prices, weather, sports results) to smart contracts that cannot access it natively.

Blockchain Practice Test

Blockchain Practice Test

Blockchain Technology Architecture and Platforms 4