Binance Academy
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Binance Academy Courses Quiz Answers
Course 1 : Blockchain Fundamental's
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Q : How does a block connect to another?
A : Through the use of hash functions
Module 2 : Brief history of blockchain technology
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Q : Which of the following statements is/are correct? Choose all that apply.
A : The idea behind blockchain technology was described as early as the 1990s
B : In January 2009, Bitcoin came to existence when the first Bitcoin block was mined
C : Satoshi Nakamoto received a reward of 50 bitcoins when the first Bitcoin block was mined
D : Vitalik Buterin started the development of a new blockchain-based distributed computing platform called Ethereum
Module 3 : How does blockchain work
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Q : Blockchain technology can be used by a network of strangers who don’t trust each other by relying on a mix of:
B : Game theory and cryptography
Module 4. Blockchain consensus mechanisms: PoW and PoS
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Q : What are the differences between Proof of Work and Proof of Stake consensus mechanisms? Choose all that apply.
B : Proof of Work requires expensive equipment and high energy costs; while Proof of Stake doesn’t
C : Proof of Stake selects validators pseudo-randomly, while nodes compete to solve a block in Proof of Work
D : Proof of Stake requires validators to hold and stake the native cryptocurrency, while Proof of Work doesn’t
Module 5. Blockchain network structure: nodes and forks
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Q : What is a soft fork? Choose all that are correct.
B : Soft forks are upgrades to the network that are backward-compatible
D : Soft forks are considered “opt-in”
Module 6. Blockchain use cases and limitations
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Q : Which of the following statements is/are correct? Choose all that apply.
A : Sending money via blockchain can be fast, and incur low fees
B : DeFi aims to create a more open, inclusive, decentralized and transparent financial system
C : Blockchain can make supply chain interactions between businesses smoother and more efficient
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