Blockchain Essentials Cognitive class Quiz Answers

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About Blockchain Essentials:

In this course, you learn about some of the common challenges facing business networks and how a new approach to recording and processing transactions that uses blockchain technology can solve some of these challenges.

When you finish this course, you should understand:

  • Blockchain and distributed ledger systems in a business environment
  • Important concepts and key use cases of blockchain for business
  • How assets can be transferred in a blockchain network
  • The role of Linux Foundation’s Hyperledger project
  • IBM’s Blockchain Strategy

Blockchain Essentials Cognitive class Module Answers

Module 1: What is blockchain?

Q1. What is a core aim of blockchain for business implementations?

  • Provide irrefutable proof of a set of facts
  • Share information anonymously across a business network
  • Optimize mining of cryptocurrency
  • Reduce disputes in the business network by allowing incorrect transactions to be deleted

Module 2: Example Blockchain Networks

Q1. What is the purpose of the IBM Food Trust blockchain?

  • Tracking shipping containers
  • Ensuring transparency in food
  • Making global payments more efficient
  • Decentralized identity

Module 3: IBM and Blockchain

Q1. Which best describes Hyperledger?

  • An IBM project to build blockchain technologies for business
  • An open source collaborative effort to advance the use of cryptocurrencies in business
  • An open source collaborative effort to advance cross-industry blockchain technologies
  • A single technology stack to implement a blockchain

Final Exam

Q1. Which best describes an asset that can be stored on a blockchain?

  • Anything of value to a participant in a business network
  • The representation of a change in state of a tracked object
  • A participant of a business transaction
  • A shared, replicated ledger

Q2. What is a ledger?

  • A system of record that logs the inputs and outputs of a business
  • Anything of value to a business
  • The particulars of a business stored by a regulator
  • The system used by publicly listed companies for shareholder communications

Q3. What qualities of service does blockchain give to a business network?

  • Efficiency, dynamicity, cognitive processes and reliability
  • Centralization, social enabled, Internet of Things, Web 3.0
  • Consensus, provenance, immutability, and finality
  • Scalability, reliability, security, maintainability

Q4. Which of the following best describes a blockchain network for trusted identity?

  • A decentralized approach that establishes trust and puts the end user in control
  • A centralized repository for storing personally identifiable information (PII)
  • An organization wanting to verify identity information can do so without the user’s involvement
  • A network where personally identifiable information (PII) is distributed for resiliency and recovery

Q5. When designing and building a solution like TradeLens or IBM Food Trust it is important that …

  • only those participants that are running nodes in the blockchain network gain benefit
  • all participants have equal permissions to use the platform
  • all participants in the ecosystem gain benefit from using the platform
  • regulators can update transactions that are submitted in error

Q6. Who would often be considered a key stakeholder when implementing a blockchain for business?

  • Miners
  • Cryptocurrency exchanges
  • Token factories
  • Regulators

Q7. What does Bitcoin have in common with blockchain for business?

  • They both implement cryptographic mining
  • They both use Proof of Work consensus
  • They both provide cryptographic proof that transactions happened
  • They are both cryptocurrencies

Q8. Hyperledger Fabric emphasizes which features?

  • Proof-of-work, scalability, resilience, smart contracts
  • Smart contracts, consensus, confidentiality and scalability
  • Cryptocurrency, confidentiality, resilience, anonymity
  • Smart contracts, consensus, cryptocurrency and scalability

Q9. Where can IBM Blockchain Platform networks be deployed?

  • Across multiple vendors’ clouds, but all network participants must agree on the same cloud provider.
  • Across multiple IBM Cloud and onpremises infrastructures only
  • To on-premises infrastructures only
  • Across multiple cloud and on-premises infrastructures, including different vendors’ clouds

Q10. What is the IBM Blockchain Platform?

  • A set of tools for building, operating a growing a blockchain network.
  • A platform to integrate Ethereum, Bitcoin and Hyperledger Fabric blockchains
  • A tool to submit feature enhancements and bug reports to Hyperledger Fabric
  • A set of tools to manage cryptocurrency wallets

Q11. Which of the following fact(s) about business networks is/are true?

  • Business networks can span geographies and regulatory boundaries
  • A single business network can include customers, suppliers, banks and partners
  • Wealth is generated by the flow of goods and services across a business network
  • All of these facts are true

Q12. Which of the following best describes the Hyperledger project?

  • A collection of business blockchain frameworks
  • A collection of business blockchain tools
  • A structured community including: governance, technical, legal and marketing
  • All of these facts are true

Q13. What does the “provenance” quality of service provide to blockchain?

  • Agreement that a transaction occurred
  • History of transactions
  • An append-only data structure
  • Transactions cannot be backed out

Q14. Which of the following facts about assets is true?

  • Assets are anything that is capable of being owned or controlled to produce value
  • Assets are always tangible
  • Cash is not considered an asset, because it is anonymous
  • The value of an asset cannot change over the course of its lifecycle

Q15. Which of the following is the primary benefit of TradeLens?

  • TradeLens allows banks to send and settle payments with finality in seconds
  • TradeLens provides end-to-end traceability of food in the supply chain
  • TradeLens provides shared visibility and state for container shipments
  • TradeLens enables verifiable claims through decentralized identity
Conclusion:

I hope this “Blockchain Essentials” Course would be useful for you to learn something new from this Course. If it helped you then don’t forget to bookmark our site for more Free and Discounted Courses

This course is intended for audiences of all experiences who are interested in learning about new skills in a business context; there are no prerequisite courses.

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