Quiz: The First Implementation of Blockchain Technology
What is the name of the first cryptocurrency that implemented blockchain technology?
A) Ethereum
B) Ripple
C) Litecoin
D) Bitcoin
Who is credited with introducing the concept of Bitcoin and its blockchain technology?
A) Vitalik Buterin
B) Charlie Lee
C) Satoshi Nakamoto
D) Jed McCaleb
In which year was the Bitcoin whitepaper published?
A) 2005
B) 2008
C) 2010
D) 2012
What is the primary purpose of Bitcoin as described in its whitepaper?
A) A platform for smart contracts
B) A digital store of value
C) A peer-to-peer electronic cash system
D) A decentralized application network
Which of the following best describes the technology behind Bitcoin?
A) A centralized ledger controlled by a single authority
B) A distributed ledger that is publicly accessible and tamper-resistant
C) A private database only accessible to selected users
D) A traditional banking system with encrypted transactions
How are new bitcoins generated?
A) Through transactions fees alone
B) By a central authority issuing new coins
C) Through a process called mining
D) By purchasing from a central bank
What is the maximum supply of Bitcoin that can ever exist?
A) 21 million
B) 100 million
C) 1 billion
D) Unlimited
Which of the following is NOT a characteristic of Bitcoin's blockchain?
A) Decentralization
B) Immutability
C) Transparency
D) Centralized control
What is the primary unit of currency in the Bitcoin network?
A) Ether
B) Satoshi
C) Ripple
D) Litecoin
Which is one of the main reasons Bitcoin is considered revolutionary?
A) It introduced a new form of online gaming currency
B) It eliminated the need for traditional financial institutions for online transactions
C) It is controlled by the government
D) It is backed by physical assets like gold
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