Blockchain Essentials Quiz Answers

Get All Module Blockchain Essentials Quiz Answers

Blockchain is an emerging technology that can radically improve banking, supply chain, and other transaction networks and can create new opportunities for innovation. Businesses contain many examples of networks of individuals and organizations that collaborate to create value and wealth. These networks work together in markets that exchange assets in the form of goods and services between the participants.

Blockchain technology provides the basis for a dynamic shared ledger that can be applied to save time when recording transactions between parties, remove costs associated with intermediaries, and reduce risks of fraud and tampering. 

The video lectures and lab in this course help you learn about blockchain for business and explore key use cases that demonstrate how the technology adds value.

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Module 1 – What is Blockchain?

Question: What is a core aim of blockchain for business implementations?

• Provide irrefutable proof of a set of facts
• Share information anonymously across a business network
• Optimize mining of cryptocurrency
• Reduce disputes in the business network by allowing incorrect transactions to be deleted

Module 2 – Example Blockchain Networks

Question: What is the purpose of the IBM Food Trust blockchain?

• Tracking shipping containers
• Ensuring transparency in food
• Making global payments more efficient
• Decentralized identity

Module 3 – IBM and Blockchain

Question: Which best describes Hyperledger?

• An IBM project to build blockchain technologies for business
• An open source collaborative effort to advance the use of cryptocurrencies in business
• An open source collaborative effort to advance cross-industry blockchain technologies
• A single technology stack to implement a blockchain

Final Exam

Question: Which best describes an asset that can be stored on a blockchain?

• Anything of value to a participant in a business network
• The representation of a change in state of a tracked object
• A participant of a business transaction
• A shared, replicated ledger

Question: What is a ledger?

• A system of record that logs the inputs and outputs of a business
• Anything of value to a business
• The particulars of a business stored by a regulator
• The system used by publicly listed companies for shareholder communications

Question: What qualities of service does blockchain give to a business network?

• Efficiency, dynamicity, cognitive processes and reliability
• Centralization, social enabled, Internet of Things, Web 3.0
• Consensus, provenance, immutability, and finality
• Scalability, reliability, security, maintainability

Question: Which of the following best describes a blockchain network for trusted identity?

• A decentralized approach that establishes trust and puts the end user in control
• A centralized repository for storing personally identifiable information (PII)
• An organization wanting to verify identity information can do so without the user’s involvement
• A network where personally identifiable information (PII) is distributed for resiliency and recovery

Question: When designing and building a solution like TradeLens or IBM Food Trust it is important that …

• only those participants that are running nodes in the blockchain network gain benefit
• all participants have equal permissions to use the platform
• all participants in the ecosystem gain benefit from using the platform
• regulators can update transactions that are submitted in error

Question: Who would often be considered a key stakeholder when implementing a blockchain for business?

• Miners
• Cryptocurrency exchanges
• Token factories
• Regulators

Question: What does Bitcoin have in common with blockchain for business?

• They both implement cryptographic mining
• They both use Proof of Work consensus
• They both provide cryptographic proof that transactions happened
• They are both cryptocurrencies

Question: Hyperledger Fabric emphasizes which features?

• Proof-of-work, scalability, resilience, smart contracts
• Smart contracts, consensus, confidentiality and scalability
• Cryptocurrency, confidentiality, resilience, anonymity
• Smart contracts, consensus, cryptocurrency and scalability

Question: Where can IBM Blockchain Platform networks be deployed?

• Across multiple vendors’ clouds, but all network participants must agree on the same cloud provider.
• Across multiple IBM Cloud and onpremises infrastructures only
• To on-premises infrastructures only
• Across multiple cloud and on-premises infrastructures, including different vendors’ clouds

Question: What is the IBM Blockchain Platform?

• A set of tools for building, operating a growing a blockchain network.
• A platform to integrate Ethereum, Bitcoin and Hyperledger Fabric blockchains
• A tool to submit feature enhancements and bug reports to Hyperledger Fabric
• A set of tools to manage cryptocurrency wallets

Question: Which of the following fact(s) about business networks is/are true?

• Business networks can span geographies and regulatory boundaries
• A single business network can include customers, suppliers, banks and partners
• Wealth is generated by the flow of goods and services across a business network
• All of these facts are true

Question: Which of the following best describes the Hyperledger project?

• A collection of business blockchain frameworks
• A collection of business blockchain tools
• A structured community including: governance, technical, legal and marketing
• All of these facts are true

Question: What does the “provenance” quality of service provide to blockchain?

• Agreement that a transaction occurred
• History of transactions
• An append-only data structure
• Transactions cannot be backed out

Question: Which of the following facts about assets is true?

• Assets are anything that is capable of being owned or controlled to produce value
• Assets are always tangible
• Cash is not considered an asset, because it is anonymous
• The value of an asset cannot change over the course of its lifecycle

Question: Which of the following is the primary benefit of TradeLens?

• TradeLens allows banks to send and settle payments with finality in seconds
• TradeLens provides end-to-end traceability of food in the supply chain
• TradeLens provides shared visibility and state for container shipments
• TradeLens enables verifiable claims through decentralized identity

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