Bitcoin MCQ Questions And Answers
This section focuses on "Bitcoin" in Blockchain. These Multiple Choice Questions (MCQ) should be practiced to improve the Blockchain skills required for various interviews (campus interviews, walk-in interviews, company interviews), placements, entrance exams and other competitive examinations.
1. The Bitcoin was introduced in this world by?
A. Stuart Haber
B. W. Scott Stornetta
C. Satoshi Nakamoto
D. Dave Bayer
View Answer
Ans : C
Explanation: The Bitcoin was introduced in this world by Satoshi Nakamoto through a research-style white paper entitled Bitcoin
2. Bitcoin is a cryptocurrency invented in?
A. 2007
B. 2008
C. 2009
D. 2010
View Answer
Ans : B
Explanation: Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.
3. Bitcoins are created as a reward for a process known as?
A. mining
B. wallet
C. bubble
D. ledger
View Answer
Ans : A
Explanation: Bitcoins are created as a reward for a process known as mining
4. Transactions ar verified by network nodes through cryptography and recorded in a public distributed ledger called a ?
A. cryptocurrency wallet
B. blockchain
C. nodes
D. cryptocurrency
View Answer
Ans : B
Explanation: Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
5. Which hash function used in Ledger?
A. SHA-64
B. SHA-128
C. SHA-256
D. SHA-512
View Answer
Ans : C
Explanation: SHA-256 hash function used in Ledger.
6. What is the block time of the ledger?
A. 5 mins
B. 8 mins
C. 2 mins
D. 10 mins
View Answer
Ans : D
Explanation: 10 minutes is the block time of the ledger.
7. Nakamoto implemented the bitcoin software as open-source code
A. TRUE
B. FALSE
C. Can be true or false
D. Can not say
View Answer
Ans : A
Explanation: Nakamoto implemented the bitcoin software as open-source code and released it in January 2009.
8. To claim the reward, a special transaction called a?
A. nonce
B. online wallets
C. hardware wallet
D. coinbase
View Answer
Ans : D
Explanation: To claim the reward, a special transaction called a coinbase is included with the processed payments.
9. Which of the following statement is true about bitcoin?
A. There is no central server; the bitcoin network is peer-to-peer
B. There is no central storage; the bitcoin ledger is distributed
C. The ledger is public; anybody can store it on their computer
D. All of the above
View Answer
Ans : D
Explanation: All of the above statement are true.
10. Bitcoin have a central authority?
A. TRUE
B. FALSE
C. Can be true or false
D. Can not say
View Answer
Ans : B
Explanation: Bitcoin does not have a central authority
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