CBCP Bitcoin Protocol and Architecture

Question 1

Which transaction model does Bitcoin use to track ownership of coins?

Accepted Answer

Unspent Transaction Output (UTXO) model

Answer

Bitcoin tracks spendable outputs (UTXOs). Each new transaction consumes existing UTXOs as inputs and creates new outputs. Ethereum uses an account-balance model instead.

Question 2

Approximately how often does Bitcoin's block reward halve?

Accepted Answer

Every 210,000 blocks

Answer

The block subsidy halves every 210,000 blocks, which is roughly every four years at a 10-minute block interval.

Question 3

What is the maximum supply of bitcoin hard-coded into the protocol?

Accepted Answer

21 million

Answer

Bitcoin's issuance schedule caps total supply at about 21 million coins, enforced by the halving schedule.

Question 4

What is the purpose of Bitcoin's Script language?

Accepted Answer

To define conditions under which an output can be spent

Answer

Script is a simple, stack-based, intentionally non-Turing-complete language. It sets the locking and unlocking conditions for spending outputs.

Question 5

What does a Simplified Payment Verification (SPV) node store?

Accepted Answer

Only block headers, using Merkle proofs to verify transactions

Answer

SPV (light) clients download only block headers and request Merkle branches to confirm that a transaction is included in a block. This saves storage and bandwidth.

CBCP - Certified Blockchain Professional Practice Test

CBCP - Certified Blockchain Professional Practice Test

CBCP Bitcoin Protocol and Architecture