Blockchain Technology: Structure,
Mechanisms, and Real-World
Applications Questions and Answers
Blockchain - ANSWER-A distributed database that leverages a constantly growing list of
ordered records called blocks.
Block - ANSWER-An ordered record in a blockchain that stores the cryptographic hash
of the previous block, a timestamp, and transaction data.
Immutability - ANSWER-The property of data in a blockchain that can be read or written
to, but not modified.
Consensus Mechanism - ANSWER-A method used to verify transaction data, such as
proof of work (POW) or proof of stake (POS).
Digital Signatures - ANSWER-Cryptographic signatures that establish the identities of
transaction participants.
Cryptographic Hash - ANSWER-A unique identifier used to distinguish blocks from each
other in a blockchain.
Public Ledger - ANSWER-A type of blockchain that is open for anyone to read and write
data.
Private Smart Contract - ANSWER-A blockchain that consists of a digital chain of blocks
storing information, accessible only to specific participants.
Transaction Data - ANSWER-Information such as date, time, and amount that is
recorded in a block.
Use Cases for Blockchain - ANSWER-Examples include cryptocurrencies, asset
transfer ledgers, smart contracts, non-fungible tokens (NFTs), government services,
and healthcare.
, Non-Fungible Tokens (NFTs) - ANSWER-Unique digital assets representing ownership
of items such as music, artwork, and memes.
Securities - ANSWER-Stocks and bonds that are recorded on a blockchain.
Fraud Prevention - ANSWER-A use case for blockchain in insurance claims to prevent
fraudulent activities.
Dough Flow - ANSWER-A concept mentioned in the context of designing a blockchain,
not part of the exam.
Transaction Verification - ANSWER-The process of confirming the validity of transaction
data in a blockchain.
Linking Blocks - ANSWER-The process of connecting blocks in a blockchain using
cryptographic mechanisms.
Timestamp - ANSWER-A record of the time at which a block was created.
Smart Contracts - ANSWER-Self-executing contracts with the terms of the agreement
directly written into code.
Healthcare Applications - ANSWER-Use of blockchain technology to manage
healthcare data securely.
Digital Chain of Blocks - ANSWER-The sequential arrangement of blocks in a
blockchain that stores information.
Unique Cryptographic Ashes - ANSWER-The unique identifiers used to distinguish
blocks from each other.
Money Transfer Ledgers - ANSWER-Blockchain applications used for transferring
money and assets.
Corporate Agreements - ANSWER-Business contracts that can be digitized and
managed on a blockchain.
PoW - ANSWER-Proof of Work
PoS - ANSWER-Proof of Stake
Mechanisms, and Real-World
Applications Questions and Answers
Blockchain - ANSWER-A distributed database that leverages a constantly growing list of
ordered records called blocks.
Block - ANSWER-An ordered record in a blockchain that stores the cryptographic hash
of the previous block, a timestamp, and transaction data.
Immutability - ANSWER-The property of data in a blockchain that can be read or written
to, but not modified.
Consensus Mechanism - ANSWER-A method used to verify transaction data, such as
proof of work (POW) or proof of stake (POS).
Digital Signatures - ANSWER-Cryptographic signatures that establish the identities of
transaction participants.
Cryptographic Hash - ANSWER-A unique identifier used to distinguish blocks from each
other in a blockchain.
Public Ledger - ANSWER-A type of blockchain that is open for anyone to read and write
data.
Private Smart Contract - ANSWER-A blockchain that consists of a digital chain of blocks
storing information, accessible only to specific participants.
Transaction Data - ANSWER-Information such as date, time, and amount that is
recorded in a block.
Use Cases for Blockchain - ANSWER-Examples include cryptocurrencies, asset
transfer ledgers, smart contracts, non-fungible tokens (NFTs), government services,
and healthcare.
, Non-Fungible Tokens (NFTs) - ANSWER-Unique digital assets representing ownership
of items such as music, artwork, and memes.
Securities - ANSWER-Stocks and bonds that are recorded on a blockchain.
Fraud Prevention - ANSWER-A use case for blockchain in insurance claims to prevent
fraudulent activities.
Dough Flow - ANSWER-A concept mentioned in the context of designing a blockchain,
not part of the exam.
Transaction Verification - ANSWER-The process of confirming the validity of transaction
data in a blockchain.
Linking Blocks - ANSWER-The process of connecting blocks in a blockchain using
cryptographic mechanisms.
Timestamp - ANSWER-A record of the time at which a block was created.
Smart Contracts - ANSWER-Self-executing contracts with the terms of the agreement
directly written into code.
Healthcare Applications - ANSWER-Use of blockchain technology to manage
healthcare data securely.
Digital Chain of Blocks - ANSWER-The sequential arrangement of blocks in a
blockchain that stores information.
Unique Cryptographic Ashes - ANSWER-The unique identifiers used to distinguish
blocks from each other.
Money Transfer Ledgers - ANSWER-Blockchain applications used for transferring
money and assets.
Corporate Agreements - ANSWER-Business contracts that can be digitized and
managed on a blockchain.
PoW - ANSWER-Proof of Work
PoS - ANSWER-Proof of Stake
