Question: What consensus algorithm is commonly used in public blockchain networks like Bitcoin?
Answer:
Public blockchain networks like Bitcoin commonly use the Proof of Work (PoW) consensus algorithm to validate transactions and secure the network.
MCQ: What consensus algorithm is commonly used in public blockchain networks like Bitcoin?
Correct Answer:
A. Proof of Authority (PoA)
Explanation:
Public blockchain networks like Bitcoin commonly use the Proof of Work (PoW) consensus algorithm to validate transactions and secure the network.
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Related Questions
- 1. How does blockchain contribute to the decentralization of data storage and management?
- 2. What is the purpose of a nonce in the context of blockchain mining?
- 3. What is the role of a hash function in blockchain security?
- 4. How does blockchain address the issue of single points of failure in traditional databases?
- 5. What is the purpose of a hard fork in blockchain technology?
- 6. How does blockchain contribute to the concept of self-sovereign identity?
- 7. What is the purpose of a consensus algorithm in a permissioned blockchain network?
- 8. How does blockchain technology contribute to the concept of tokenization?
- 9. What is the purpose of a digital signature in a blockchain transaction?
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