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Cryptocurrency Myths and Facts Explained

The document contains true/false questions about cryptocurrency topics like Bitcoin, Ethereum, blockchain, and smart contracts. It asks about the value and buying of cryptocurrencies, different blockchain types, advantages of Bitcoin, and concepts like hashing and encryption.

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Pramod
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7 views2 pages

Cryptocurrency Myths and Facts Explained

The document contains true/false questions about cryptocurrency topics like Bitcoin, Ethereum, blockchain, and smart contracts. It asks about the value and buying of cryptocurrencies, different blockchain types, advantages of Bitcoin, and concepts like hashing and encryption.

Uploaded by

Pramod
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd

1.

The value of cryptocurrency is independent of market conditions such as supply


and demand.
False

2. BlockChain provides ___________ database of every transaction involving value.


Open Decentralized

3. The first smart contract platform is


R3 Corda

4. Bitcoin is
Peer to peer currency

In asymmetric key cryptography, the private key is kept by


reciever

Smart Contracts are reversible.


false

Blockchain could prevent robustness and transparency in the post � trade


environment.
false

The value of coins (litecoin, bitcoin) is same at a particular time.


false

Where can you buy a cryptocurrency?


All

Bitcoin is an example of which type of blockchain?


Public Blockchain

Digital assets must always be tangible.


false

Which platform could gain its best use case from financial service industry?
Hyperledger

Which among the following are the advantages of using bitcoin?


All of the option

Bankchain is an example of
Federated - worng ans

Bitcoin network would make it impossible to bypass the traditional financial


intermediaries.
False

A transaction without verification in bitcoin could be fastest accomplished in how


much time?

Coincap is a budding cryptocurrency.


false

Ether provides greater flexibility than Bitcoin does.


true

China and Russia were amongst the first few countries to promote bitcoin in their
economy?
false

Encryption reduces data security.


false

New bitcoins are released every time a transaction is verified.


false

Encrypted text is also known as


cipher text

Hyperledger allows us to customize the visibility of a transaction in a blockchain.


True

The three concepts used to explain the foundation of blockchain are


Buisness network, Digital Assets, Ledger

The output of Hashing is popularly known as


digest

One bitcoin could be divided down to ____ decimal point?


16

Where can you buy a cryptocurrency?


All

The rate of generation of new bitcoins is constant.


false

Name the first cryptocurrency with computing power contribution?


bitcoin

Blockchain which is popularly known as �for the people, by the people and of the
people� is ___________.
Public

17 We can buy cryptocurrency.


false

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