Free Blockchain CBSA Practice Exam with Questions & Answers | Set: 5

Consider the following scenario: A solo app developer wants to create their own cryptocurrency and build a blockchain based that allows users to buy and sell second-hand items with that cryptocurrency from each other. Before the transaction is considered complete, the purchaser must put the funds in an escrow service and the sender must enter the courier tracking number into that same escrow. Time is of the essence and this developer doesn’t want to worry about networking of infrastructure. This app must be fully autonomous or “decentralized”.

Which architecture would best solve the product need?

Gas has multiple associated terms with it: Gas Prices, Gas Cost, Gas Limit, and Gas Fees. The principle behind Gas is to have a stable value for how much a transaction or computation costs on the Ethereum network.

Which is considered to be the static value for how much a computation costs in terms of Gas?

______ is the official Ethereum IDE that allows developers to build and deploy contracts and decentralized applications on top of the Ethereum blockchain.

A Blockchain network can be best categorized as:

In common blockchain design, identity and transaction approval is possible through:

Which of the following blockchain key components state how the transactions will be confirmed?

What component on the blockchain maintains the "world state"?

Pending transactions on the Ethereum blockchain are always ordered by highest fee paid to lowest, and then written to the block in that order.

You are considering a cryptocurrency and for your privacy and anonymity are number one priority.

Which cryptocurrency should you likely use?

R3 Corda does not organize time into blocks. What does Corda actually perform and use?