Blockchain Implementation Challenges >> Introduction to Blockchain Technologies
1. In what sense is blockchain technology “not ready for prime time?”
1 point
Correct: All of these represent reasons why blockchain technology is “not ready for prime time.”
2.One of the biggest challenges associated with using proof-of-work (PoW) as a consensus mechanism is:
1 point
Correct: The PoW consensus mechanism consumes a massive amount of energy.
3.How have some governments and lawmakers stifled blockchain innovation?
1 point
Correct: All of these represent ways that various governments have stifled blockchain innovation.
4.In 2014, thieves stole 8 million VeriCoins from the MintPal exchange. Within days of the attack, VeriCoin developers released new code that, in essence, rolled back time prior to the attack. They then collaborated with exchanges to make sure that this new code was adopted. This situation is an example of:
1 point
Correct: This was an example of a hard fork.
5.In the Bitcoin blockchain, what would likely happen if there were no transaction fees to incentivize miners?
1 point
Correct: Transaction fees incentivize miners to secure the network.
6.How is blockchain a “job killer?”
1 point
Correct: All of the above statements are true.
7.Why is the governance of blockchain protocols so difficult—particularly for large, public blockchains?
1 point
Correct: All of the above statements are true.
8.Which of the following refers to an entity that uses intelligent software to manage and organize resources and processes?
1 point
Correct: You will learn more about distributed autonomous agents in a subsequent course.
9.Which of the following best illustrates the concept of “privacy by design?”
1 point
Correct: Privacy-by-design should include end-to-end encryption and should respect users’ right to be forgotten.
10.In 2014, Europol and the US Federal Bureau of Investigation (FBI) seized a dark-web marketplace for illegal drugs, which had 13,757 listings priced in Bitcoin. Consequently, the price of bitcoin plummeted and cryptocurrencies became synonymous with crime. What was the name of this site?
1 point
Correct: Silk Road was a dark-web marketplace that made people perceive cryptocurrencies as being synonymous with crime.
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