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Test Your Knowledge

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Blockchain: What is it and How does it Work

Question 1:


What is a blockchain?

A. A centralized database for storing cryptocurrency transactions.


B. A decentralized digital ledger where data is stored in blocks secured by cryptography.


C. A type of software used exclusively for Bitcoin mining.

Question 2:


Which consensus mechanism requires solving complex mathematical problems to validate transactions?

A. Proof of Stake (PoS)


B. Proof of Work (PoW)


C. Delegated Proof of Stake (DPoS)

Question 3:


What is one major benefit of blockchain technology?

A. Centralized control for faster decision-making.


B. Transparency, where all transactions are visible to participants.


C. High transaction fees due to advanced technology.

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