Quiz  /  Blockchain Bank PO MCQ Questions With Answers

  • 1. 
    Which of the following better describes what blockchain is?

  • Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.
  • Blockchain is a private, mutable ledger that protects the process of recording transactions and storing assets in a business network.
  • Blockchain is a controlled, updatable ledger that encapsulates the process of keeping transactions secret without tracking assets in a business network.
  • Blockchain is a costly, protected ledger that simulates the process of formulating transactions, so it sells assets in a business network.

  • 2. 
    Once records are submitted on a blockchain, can they be altered?

  • Yes – the parties can go back in and alter them at any time.
  • Yes – but only within a certain time frame.
  • No – they cannot be altered.
  • None of these

  • 3. 
    Bitcoin and blockchain are basically the same.

  • True
  • False

  • 4. 
    All blockchains are built for business only.

  • True
  • False

  • 5. 
    When a record is on a blockchain, who can access it?

  • Multiple people simultaneously.
  • One person at a time.
  • Only the people involved in the transaction.

  • 6. 
    Everyone knows who is Satoshi Nakamoto.

  • True
  • False

  • 7. 
    Are blockchain fully public?

  • Yes
  • No
  • It depends

  • 8. 
    Blockchain provides the means to record and store Bitcoin transactions. So, blockchain is mostly used for Bitcoin.

  • True, as Bitcoin is the first use case for blockchain.
  • False, as Bitcoin is only the first use case for blockchain.

  • 9. 
    Bitcoin — the digital currency launched in 2009 by ....

  • Satoshi Nakamoto
  • China
  • A group of hackers
  • The European Bank

  • 10. 
    Blockchain owes its name to ...

  • the way money travels
  • a prisoner who was innocent
  • its creator, because he lived in a big block
  • the way it stores transaction data — in blocks that are linked together to form a chain.

  • 11. 
    Who is a miner

  • A type of blockchain
  • An algorithm that predicts the next part of the chain
  • Computers that validate and process blockchain transactions
  • A person doing calculations to verify a transaction
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