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Adaface Sample Blockchain Questions

Here are some sample Blockchain questions from our premium questions library (10273 non-googleable questions).

Skills

🧐 Question

Medium

51% Attacks
Solve
                                    A 51% attack is perhaps the most discussed threat to any public Blockchain asset. A 51% attack happens when a certain miner or mining pool, that owns more than 50% of all the network’s hashing power, acts maliciously to disturb the network’s operation.
                                    
                                    For example: Two Bitcoin Cash mining pools, carried out a 51% attack on the Bitcoin Cash blockchain in order to stop an unknown miner from taking coins that they weren’t supposed to have access to, while the network forked.
                                    
                                    Which of the following CAN be done by a miner employing a 51% attack?
            
            A: Double spend their coins
            B: Reverse confirmed transactions
            C: Steal funds from a certain address
            D: Prevent transactions from being confirmed
            E: Create false transactions that never happened
                                    

Medium

Evidence
Solve
                                    Breed Chasing, solo engineer is planning to create new cryptocurrency, NEWCRAIGLIST and build a blockchain that facilitates buying and selling second-hand items with NEWCRAIGLIST from each other. Breed expects the platform to be used for international transactions and devised the following process:
            
            - Before a transaction is considered complete, the purchaser must put the funds in an escrow service
            - The sender must enter the courier tracking number into that same escrow
                                    
                                    Palmart, toy store giant in US is asked by lawmakers to provide evidence that proves the store’s toys are not produced through child labour. Palmart’s toys are transferred between 7 parties between creation and placement at the store. Palmart is considering using blockchain to solve this problem. Discretion in the reading and writing of transactions is highly important to the store chain to protect its proprietary interests. Review the following possible solutions and pick the best approach that solves Palmart’s problem:
                                    
                                    Option A:
            Use a public blockchain that supports assets.
            Then create a new toy asset for each item created. 
            When the toy is transferred to the next party, mandate that the associated blockchain asset to be transferred to the next party's blockchain account with required metadata.
            Lawmakers can now view transactions and transfers at any time.
            
            Option B: 
            Use a permissioned blockchain.
            Require that every party involved in the process to host a node on the Palmart's network. 
            Create a new toy asset for each item created. 
            When the toy is transferred to the next party in the process, have the previous party use a web portal to initialize a chain code Smart Contract to transfer control of the asset. 
            When the next party receives the asset have them use a web portal to initialize a chain code Smart Contracts to acknowledge receipt of the asset. 
            Provide read-only permissions to the lawmakers so they can receive the evidence they are looking for.
                                    
🧐 Question🔧 Skill

Medium

51% Attacks
3 mins
Blockchain
Solve

Medium

Evidence
3 mins
Blockchain
Solve
🧐 Question🔧 Skill💪 Difficulty⌛ Time
51% Attacks
Blockchain
Medium3 mins
Solve
Evidence
Blockchain
Medium3 mins
Solve

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