Fintech Final (New 2026/ 2027 Update)
Questions & Answers {Grade A} 100%
Correct (Verified Solutions)
What accuracy measure would we use for numerical data - Correct answer Root mean
square error
the lower the RMSE the higher the accuracy
With more branches in a tree we risk - Correct answer over fitting
Is tether fully decentralized - Correct answer no
in a distributed network, it is mathematically ________ to come up with a mechanism
that generates a perfect consensus. - Correct answer impossible
Bitcoin and Litecoin use what consensus algorithm - Correct answer Proof of work
Etherum uses what kind of consensus algorithm - Correct answer Proof of Stake
,Is it difficult to validate for Proof of Work - Correct answer no
What is in A Block - Correct answer Ther version of the block
The has of the previous block
all the transactions in the block hashed together
the time
the feild the miners change(nonce)
Nonce - Correct answer The field that miners change in order to try and get a hash of
the block header (a Block Hash) that is below the Target.
Solutuion
Other miners stop mining the block as soon as they find that someone else did it
successfully. (They don't have to, why?) - Correct answer They could do it faster
Mining rewards are to be cut in half every 210,00 blocks, that means - Correct answer
it will stop compleelty october 8th 2140
the total supply of bitcoin is capped at 21 mil
, Transaction fees for Bitcoin are - Correct answer Very High, bc there is a small limit
for the block size
Explain the Scalability of Blockchain - Correct answer This is a big issue for blockchian
The Bitcoin protocol can only process 7 transactions per second (vs VISA can do like
2,000) Transaction appovial takes about an hour and the size for the blockchain is
more than 300gb plus transaction fees are very high
Coin vs Token - Correct answer A coin has its own blockchain. But a token is
developed on top of another blockchainplatform (e.g. Ethereum'sERC-20 tokens).
•Coins usually aim to compete with money, but tokens are often used as a medium of
exchange for specific product or services developed using blockchaintechnology.
Bitcoin Forks - Correct answer Litecoin(LTC): Faster transaction approval (2.5 minutes
per block), more coins (84 mil). PoWconsensus mechanism. Faster to innovate code
(SegWit, Lighting network,...). Forked on October 2011.
Questions & Answers {Grade A} 100%
Correct (Verified Solutions)
What accuracy measure would we use for numerical data - Correct answer Root mean
square error
the lower the RMSE the higher the accuracy
With more branches in a tree we risk - Correct answer over fitting
Is tether fully decentralized - Correct answer no
in a distributed network, it is mathematically ________ to come up with a mechanism
that generates a perfect consensus. - Correct answer impossible
Bitcoin and Litecoin use what consensus algorithm - Correct answer Proof of work
Etherum uses what kind of consensus algorithm - Correct answer Proof of Stake
,Is it difficult to validate for Proof of Work - Correct answer no
What is in A Block - Correct answer Ther version of the block
The has of the previous block
all the transactions in the block hashed together
the time
the feild the miners change(nonce)
Nonce - Correct answer The field that miners change in order to try and get a hash of
the block header (a Block Hash) that is below the Target.
Solutuion
Other miners stop mining the block as soon as they find that someone else did it
successfully. (They don't have to, why?) - Correct answer They could do it faster
Mining rewards are to be cut in half every 210,00 blocks, that means - Correct answer
it will stop compleelty october 8th 2140
the total supply of bitcoin is capped at 21 mil
, Transaction fees for Bitcoin are - Correct answer Very High, bc there is a small limit
for the block size
Explain the Scalability of Blockchain - Correct answer This is a big issue for blockchian
The Bitcoin protocol can only process 7 transactions per second (vs VISA can do like
2,000) Transaction appovial takes about an hour and the size for the blockchain is
more than 300gb plus transaction fees are very high
Coin vs Token - Correct answer A coin has its own blockchain. But a token is
developed on top of another blockchainplatform (e.g. Ethereum'sERC-20 tokens).
•Coins usually aim to compete with money, but tokens are often used as a medium of
exchange for specific product or services developed using blockchaintechnology.
Bitcoin Forks - Correct answer Litecoin(LTC): Faster transaction approval (2.5 minutes
per block), more coins (84 mil). PoWconsensus mechanism. Faster to innovate code
(SegWit, Lighting network,...). Forked on October 2011.
