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CBBF Exam Dumps - Certified Blockchain Business Foundations

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Question # 4

Why is Blockchain important?

A.

It allows for a secure, global, and peer to peer record of data

B.

It provides anonymity when making transactions

C.

It is a free, trusted bank

D.

It replaces all ledgers

E.

All of the above

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Question # 5

The transaction has contained in a block is the ___________.

A.

Metadata used for ID

B.

Same as the user private key

C.

Digital fingerprint of the block

D.

Unique number to show it’s a Bitcoin block

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Question # 6

What do consensus methods achieve?

A.

Anonymity in a peer to peer network

B.

The highest level of security in a database by ensuring 51% agreement of nodes on the network.

C.

The most efficient way of recording a transaction in any database.

D.

It confirms that all nodes on the network are legitimate.

E.

None of the above

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Question # 7

How do consensus algorithms like Proof of Work or Proof of Stake incentivize miners to participate?

A.

By paying miners with U.S. dollars

B.

By paying the miners with cryptocurrency

C.

By placing their name on the Blockchain

D.

By not charging users monthly subscription costs

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Question # 8

A smart contract on the Blockchain provides __________. Select all that apply

A.

Specific actions to be taken on events or transactions

B.

The same contracts a bank provides

C.

A set of business conditions that must be met

D.

Better anonymity of those making transactions

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