What is a blockchain? Take this QUIZ | 5 easy questions

What is a blockchain?

A decentralized exchange

A distributed ledger on a peer to peer network

A Dapp

A centralized ledger

Correct! Wrong!

What is a dApp?

A type of Cryptocurrency

A chocolate

A decentralized application

A key

Correct! Wrong!

What does P2P stand for?

Peer to Peer

People to People

Pirate to Pirate

Password to Password

Correct! Wrong!

What is a node?

A new crypto

A Blockchain

A computer on a Blockchain network

A browser

Correct! Wrong!

Smart contracts are legally binding contract

True

False

Correct! Wrong!

What is blockchain? Quiz

Stick w/ your day job

Crypto noob

DYOR pro

Alpha Chad Hodlr

Blockchain can make transactions faster and cheaper because it spreads operations across a network of computers. It is also more secure than traditional ledgers and databases because transactions are permanent and cannot be altered. This is one reason why businesses have started adopting blockchain. This technology can help them cut costs, improve customer service, and boost overall efficiency.

Blockchains can be compared to checkbook ledgers. Blockchains are databases that are shared between computer-network nodes. The blocks are linked together using cryptography. Blockchains are most commonly associated with cryptocurrency systems. They are a crucial piece of the system, serving as a secure record of transactions. They guarantee the fidelity of data and create trust without a third party.