Fintech Final (New 2026/ 2027 Update)
Questions & Answers {Grade A} 100%
Correct (Verified Solutions)
What do bitcoin miners do - Correct answer group the broadcasted transactions into
"blocks" of new transactions and "chain" them to the most recent existing block.
How can you connect to a network in bitcoin - Correct answer Full node: A node that
fully enforces all the rules of bitcoin using the entire blockchain.•Pruned (or light)
node: a node with just the most recent blocks.
Why do we put transactions into blocks - Correct answer In a decentralized network,
we need to have a consensus mechanism to validate transactions.
We also want to make sure that the history of transactions is safe and secure and
cannot be manipulated.
•These are securely done if we aggregate transactions in blocks.
,Who forms transaction blocks? Who decides which transactions go into a specific
block? - Correct answer Each verifier/miner decides which transactions to include in
their own block.
Who is a verifier? - Correct answer In a permissionless blockchain like bitcoin or
ethereum, anyone can be a verifier.
•In a permissioned blockchain like hyperledger, only certified individuals can be
verifiers.
•In reality, you need lots of computing power to get a decent chance of winning the
reward. Mining pools are often formed to minimize the volatility of rewards.
Verifying transactions can be done - Correct answer very fast
Before verifiers/miners add transactions they need to - Correct answer 1.)the sender
indeed has the private key.
2.)the sender has not used the BTC in previous transactions. (she is not double-
spending)
, T/F Because verifiers/miners have full discretion in deciding which transactions to add
to their blocks, each miner might have blocks with different transactions in it. - Correct
answer True
Goal of Bitcoin/Blockchain Algorith - Correct answer 1.to make sure that all nodes
converge to share and use the same data
2.to protect the ledger from malicious attacks.
Optiumum Level for complexity for a ML model - Correct answer where there is the
lowest point of out of sample erros
when constucting a model to predict defautl rate what is a good tool to use to measure
acuarcy - Correct answer f1 score
What cypto currency enables smart contacts - Correct answer Etherum
Where does a bitcoin tansaction go right after it is broadcasted to the network? -
Correct answer Pool of unconfirmed transactions
Questions & Answers {Grade A} 100%
Correct (Verified Solutions)
What do bitcoin miners do - Correct answer group the broadcasted transactions into
"blocks" of new transactions and "chain" them to the most recent existing block.
How can you connect to a network in bitcoin - Correct answer Full node: A node that
fully enforces all the rules of bitcoin using the entire blockchain.•Pruned (or light)
node: a node with just the most recent blocks.
Why do we put transactions into blocks - Correct answer In a decentralized network,
we need to have a consensus mechanism to validate transactions.
We also want to make sure that the history of transactions is safe and secure and
cannot be manipulated.
•These are securely done if we aggregate transactions in blocks.
,Who forms transaction blocks? Who decides which transactions go into a specific
block? - Correct answer Each verifier/miner decides which transactions to include in
their own block.
Who is a verifier? - Correct answer In a permissionless blockchain like bitcoin or
ethereum, anyone can be a verifier.
•In a permissioned blockchain like hyperledger, only certified individuals can be
verifiers.
•In reality, you need lots of computing power to get a decent chance of winning the
reward. Mining pools are often formed to minimize the volatility of rewards.
Verifying transactions can be done - Correct answer very fast
Before verifiers/miners add transactions they need to - Correct answer 1.)the sender
indeed has the private key.
2.)the sender has not used the BTC in previous transactions. (she is not double-
spending)
, T/F Because verifiers/miners have full discretion in deciding which transactions to add
to their blocks, each miner might have blocks with different transactions in it. - Correct
answer True
Goal of Bitcoin/Blockchain Algorith - Correct answer 1.to make sure that all nodes
converge to share and use the same data
2.to protect the ledger from malicious attacks.
Optiumum Level for complexity for a ML model - Correct answer where there is the
lowest point of out of sample erros
when constucting a model to predict defautl rate what is a good tool to use to measure
acuarcy - Correct answer f1 score
What cypto currency enables smart contacts - Correct answer Etherum
Where does a bitcoin tansaction go right after it is broadcasted to the network? -
Correct answer Pool of unconfirmed transactions
