You're testing C4 Blockchain: Basics and Applications >> Blockchain Basics

As part of my master's program, I have created this quiz with a collection of multiple-choice questions that are designed to help me and my classmates review our knowledge of the "Blockchain Basics" module from "Course 4 Blockchain: Basics and Applications".

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Shown below are 9 randomly selected questions from the C4 Blockchain: Basics and Applications >> Blockchain Basics knowledge test. As an unauthenticated user, you have access to a limited set of 9 questions out of 367, and you won't be able to view the correct answers for them.

1/367: What is the purpose of the difficulty level in the consensus mechanism for a block in the blockchain?

To make the verification process faster.
To make it easier for miners to add a block to the blockchain.
None of the above.
To increase the security of the blockchain.

2/367: How are the transactions represented in the Merkle tree?

As plaintext data
As hashed data
As ASCII data
As binary data

3/367: What are the inputs and outputs of a Bitcoin transaction?

Inputs are the new UTXOs created, and outputs are the UTXOs being spent
Inputs are the transaction fees paid by the user, and outputs are the UTXOs being spent
Inputs are the UTXOs being spent, and outputs are the new UTXOs created
Inputs are the UTXOs being spent, and outputs are the transaction fees paid by the user

4/367: What happens if the total size of transactions in the transaction pool exceeds the block size?

The excess transactions are added back to the transaction pool
All the transactions are discarded
The block size is increased to accommodate all transactions

5/367: What is the purpose of signing data in Asymmetric Cryptography?

To authenticate the sender of the data
To ensure that the data is not intercepted during transmission
To encrypt the data
To decrypt the data

6/367: What should be done if the number of hashes obtained is more than one?

Continue with the next step.
Go back to step 2 and repeat steps 2 and 3 until only one hash is obtained.
Go back to step 1.
Stop the process.

7/367: What happens to the UTXOs after a transaction is completed in Bitcoin?

They remain in the network as a record of the transaction
They are sent to a central repository
They are deleted from the network
They are converted to a different format

8/367: What is the benefit of using an SPV node in the Bitcoin blockchain network?

It allows users to create new blocks in the network.
It allows users to access and verify transactions with limited storage and bandwidth.
It allows users to store the entire blockchain on their devices.

9/367: What is a Bitcoin wallet?

A type of credit card
A digital wallet for storing Bitcoin
A physical wallet for storing cash
A type of bank account