Cryptocurrency Blockchain and Consensus Mechanisms 4

Question 1

What is a 'genesis block' in a blockchain?

Accepted Answer

The very first block in a blockchain, with no predecessor

Answer

The genesis block is block zero — hardcoded into the protocol, it has no parent hash and anchors the entire chain.

Question 2

What is the purpose of the 'difficulty adjustment' mechanism in Bitcoin?

Accepted Answer

To keep the average block time near 10 minutes regardless of total hash rate

Answer

Bitcoin recalibrates mining difficulty every 2,016 blocks so that blocks are produced approximately every 10 minutes even as hash rate fluctuates.

Question 3

In Ethereum's proof-of-stake, what is an 'epoch'?

Accepted Answer

A period of 32 slots used to organize validator duties and finalization checkpoints

Answer

An epoch consists of 32 slots (approximately 6.4 minutes total), after which the beacon chain processes validator shuffling and finalization.

Question 4

What is a 'light client' in blockchain terminology?

Accepted Answer

A node that downloads only block headers to verify state without storing the full chain

Answer

Light clients use Merkle proofs and block headers to verify transactions without downloading the full blockchain, reducing resource requirements.

Question 5

What is the CAP theorem's relevance to blockchain design?

Accepted Answer

It states a distributed system cannot simultaneously guarantee consistency, availability, and partition tolerance

Answer

The CAP theorem forces blockchain designers to trade off between consistency and availability during network partitions, influencing consensus design choices.

Cryptocurrency Practice Test

Cryptocurrency Practice Test

Cryptocurrency Blockchain and Consensus Mechanisms 4