FREE Certified Blockchain Professional (CBCP) Questions and Answers

Question 1

What benefit does a public blockchain offer?

Accepted Answer

It is open to everyone in the world without permission and licensing requirements.

Answer

Its networks are built by for-profit companies and the working of the network is guaranteed.

Answer

It is more resilient against fraud, because it uses federated nodes to combat fraud.

Answer

It does not use disinterested third parties to secure blocks, as all participants have a vested interest.

Question 2

What exactly is a blockchain?

Accepted Answer

A distributed database with a record of all transactions on the network.

Answer

A standalone database with history of all transactions on various nodes.

Answer

A client-server database existing on a limited number of nodes at the same time.

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A centralized database that holds a subset of all transactions on all nodes.

Question 3

What role does a lightweight node play in a blockchain network?

Accepted Answer

It verifies transactions by piggybacking on the work of full nodes.

Answer

It stores purchased cryptocurrency for users of a blockchain network.

Answer

It stores a complete history of every transaction on the network.

Answer

None of the above

Question 4

What does not classify a node?

Accepted Answer

Merkle node

Answer

Miner node

Answer

Lightweight node

Answer

Full node

Question 5

A bearer instrument that can be used to transfer value between two parties over a blockchain network. What exactly is this instrument?

Accepted Answer

A token

Answer

A DApp

Answer

A hash

Answer

A node

Question 6

What distinguishing feature distinguishes a public blockchain?

Accepted Answer

Allowing anyone to participate in the blockchain network

Answer

Allowing a user to elect nodes to process transactions

Answer

Allowing only trusted parties to operate their blockchain

Answer

Allowing control over who can participate and at what level

Question 7

What is an illustration of cryptography being used in a blockchain?

Accepted Answer

Securing transfers of cryptocurrency between recipients

Answer

Keeping blockchains secure from 51% attacks by corrupt nodes

Answer

Creating cryptocurrency as a reward for mining nodes

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Accessing private or hybrid blockchains by using a private key

Question 8

How do blockchains employ private and public-key cryptography?

Accepted Answer

Asymmetric encryption allows a sender to transfer cryptocurrency to a public key. The recipient can then access these funds with their private key and hold it in their wallet.

Answer

Symmetric encryption allows a sender to transfer cryptocurrency to another user. The recipient can then access their funds when the sender grants access to their private key.

Answer

The algorithm in the blockchain encrypts and stores private and public keys to all user's wallets. The user then accesses their funds through their twenty-word passphrase key.

Answer

In public-key cryptography, one key is used to encrypt and decrypt transaction. The sender uses this key to send cryptocurrency and the recipient’s wallet holds it after decryption.

Question 9

How do hybrid blockchain networks defend against 51% attacks?

Accepted Answer

Through Merkle tree roots, that allow the network to restore itself to its last valid block

Answer

Through incentivization, where miners receive currency for securing the network

Answer

Through a Proof of Work (PoW) algorithm, which allows miners to secure the network

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Through a central controller ensuring the security of each node in the network

Question 10

How do blockchains work like ledgers?

Accepted Answer

They hold a record of all transactions that have ever occurred on a network.

Answer

They periodically update all balances of each wallet to the blockchain.

Answer

They hold vast amounts of transaction data as a centralized database.

Answer

None of the above