CCA Transactions & Verification 1

Question 1

What does a blockchain transaction include?

Accepted Answer

Digital signature and transaction details

Answer

A blockchain transaction typically includes sender and receiver addresses, amount, timestamp, and a digital signature.

Question 2

How is a transaction verified on the blockchain?

Accepted Answer

Through consensus among network nodes

Answer

Network nodes validate transactions using consensus mechanisms like Proof of Work or Proof of Stake.

Question 3

What is a hash in blockchain?

Accepted Answer

A cryptographic summary of data

Answer

A hash is a unique digital fingerprint of data, used to verify integrity and link blocks securely.

Question 4

What prevents double-spending in blockchain?

Accepted Answer

Consensus protocol validation

Answer

Consensus mechanisms and public verification ensure a transaction is recorded only once on the blockchain.

Question 5

What is the role of a miner in transaction verification?

Accepted Answer

They validate and add transactions to the ledger

Answer

Miners solve complex problems to validate and add transactions to the blockchain, earning rewards for doing so.

(CCA) Certified Cryptocurrency Auditor Practice Test