Please select all appropriate uses for blockchain technology. O To automate record-keeping of share market transactions To automate the storage of land ownership records O To facilitate automatic communication between machines O To enable machines to learn better perform computational tasks Question 2 A blockchain is immutable. What does this mean? O Previously recorded items can't be changed O The blockchain can't be stopped from evolving O The blockchain can be stopped from evolving O Previously recorded items can be changed Question 3 Which hashing algorithm does the Bitcoin blockchain use? O SHA-256 O SHA-512 O SHA-O O MD5Question 4 1 p The blockchain is a distributed ledger What does this term mean? 0 A copy of the ledger rests with all servers in the network 0 A copy of the ledger rests only on one central server 0 A copy of the ledger rests with the government's servers 0 A copy of the ledger rests with every single server in the world Question 5 1 p It is mentioned in a module that miners typically need to rent large facilities known as mining farms to run plenty of computers at full capacity all day long. Given this information, what traits would an ideal country for mining have? 0 Cold weather, cheap electricity, cheap realeestate 0 Warm weather, cheap electricity, picturesque vistas 0 Warm weather, expensive electricity, expensive realeestate 0 Cold weather, cheap electricity, exotic wildlife Question 6 1 p Fill in the blank Bitcoin transactions that are waiting to be included in the blockchain are stored in the _____ Please select all coins that offer superior privacy and anonymity than Bitcoin. O Monero O DASH O Ripple O Bitcoin Cash O EOS Question 9 What risk do smart contracts eliminate? O Default risk - risk that your counterparty won't have sufficient funds to fulfil their obligations O Liquidity risk - risk that you won't have sufficient funds to meet your immediate liabilities O Market risk - risk that adverse market price movements will cause you losses O Reinvestment risk - risk that you won't be able earn the same return when reinvesting Question 10 What are the two crucial pieces of information that a wallet user needs to have called? Public key and private key O Public key and personal key O Common key and private key O Common key and personal keyFill in the blank The process through which the Bitcoin Cash blockchain was created from the Bitcoin blockchain is called a Question 12 Which consensus mechanism does the Bitcoin blockchain use? O Proof-of-work O Proof-of-stake O Proof-of-reputation O Proof-of-capacity Question 13 Tokens written using the ERC721 standard are non-fungible. What does this term mean? O Each unit of the token can have a different value O Each unit of the token has the same value O Only a few units of the token have some value O Some units of the token have a pre-specified high value and other units have a pre-specified low valueWhat type of a businessperson would be most likely to consider an initial coin offering? 0 The founder of a blockchainebased project 0 The CEO of a multinational nancial company 0 The Chairman of a company considering using a private blockchain O The inventor of a cool new product that would have mass appeal Question 15 Fill in the blank One crucial difference between dApps and regular apps is that the source code for dApps is __________ . Question 16 What is the major difference between tokens and cryptocurrencies? O Tokens are not backed by their own blockchain O Tokens can't be used to make peeretoepeer payments 0 Tokens use proof-of-stake instead of proof-of-work O Tokens can't be stored in digital wallets Under which scenario is it more appropriate to build a cryptocurrency instead of a token? Q You want to build a blockchain that uses a proofeofsburn consensus mechanism 0 You want to build a retail marketplace for electricity 0 You want to build an easyto-use payment gateway like PayPal Q You want to move share ownership records to the blockchain Question 18 Under which scenario is it more appropriate to build a token instead of a cryptocurrency? Q You want to a blockchainbacked marketplace for used items like Gumtree 0 You want to a blockchain with the exact specication as Bitcoin except with proof-ofstake Q You want to create a blockchain on which others can write smart contracts 0 You want to create a peerstorpeer payment network that uses a distributed consensus ledger Question 19 What is a scheme that guarantees returns to investors but uses funds from new investors to pay returns to old investors called? 0 Ponzi scheme 0 Fake charity scheme 0 Pyramid selling scheme 0 Pumpanddump scheme If you want to sell Ethereum for US dollars, which of the following pairs would you sell? O ETH/USD O BTC/AUD O ETH/AUD O USD/ETH Question 21 1 pts You sell 1 BTC on Independent Reserve. When will a transaction appear on the blockchain? When you transfer 1 BTC from your wallet to your exchange account As soon as your sell your 1 BTC on the exchange O Only when you bought the 1 BTC initially O When you transfer 1 BTC from your wallet to your exchange account and as soon as you sell your 1 BTC on the exchange Question 22 1 pts You are trading at a cryptocurrency exchange and you that the best buy limit order is for 10 BTC and has a price of $10,000. You are happy to sell your 5 BTC at this price so you immediately submit a sell market order. However, after your order is executed, you find that it was executed at a price of $9,500 and not $10,000. What type of manipulation have you fallen victim to? O Spoofing O Pump-and-dump O Front running O Wash tradingYou are a proud holder of Ethereum. One morning you wake up to the news that Vitalik Buterin has perished in a car accident. What should be your immediate course of action? O Check Vitalik's twitter and other reliable cryptocurrency sources to verify the news Book a flight to Canada to attend his funeral O Run to your exchange and sell all your ETH O Share the news piece on all social media platforms Question 24 Suppose you want to buy Litecoin (LTC) and you only have Australian dollars. Let's say Independent Reserve lists a BTC/AUD pair and Binance lists a LTC/BTC pair. How will go about buying LTC? O Deposit AUD to Independent Reserve then buy the BTC/AUD pair then transfer BTC to Binance then buy the LTC/BTC pair O Deposit AUD to Binance then buy the LTC/BTC pair O Deposit AUD to Independent Reserve then sell the BTC/AUD pair then transfer AUD to Binance then buy the LTC/BTC pair O Deposit AUD to Binance then buy the LTC/BTC pair then transfer LTC to Independent Reserve then sell the BTC/AUD pair Question 25 What is one mechanism exchanges can use to prevent hacks? O Store their client's funds in cold wallets O Store their client's funds in hot wallets O Implement two-factor authentication O Implement a trade surveillance systemWhat is one major benefit of the proof-of-stake mechanism over the proof-of-work mechanism? O Proof-of-stake uses significantly less computing power O Proof-of stake can incorporate a bigger network of miners O Proof-of-stake eliminates the risk of 51% attacks O Proof-of-stake eliminates the need for mining altogether