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Apply Here: Blockchains Essentials Cognitive Class Exam Quiz Answers
Block Chain Essentials Cognitive Class Certificate Answers
Module 1: What is Block Chain?
Question 1: 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
Question 1: What is the purpose of the TradeLens blockchain?
- Tracking shipping containers
- Ensuring transparency in food
- Making global payments more efficient
- Decentralized identity
Module 3: IBM and Blockchain
Question 1: Which best describes Hyperledger?
- A collaborative effort to build blockchain technologies for business
- An open source collaborative effort to advance the use of cryptocurrencies in business
- An open source collaborative effort created to advance cross-industry blockchain technologies
- An open source project with a single technology to advance the use of blockchain by businesses
Module 4: Demo Block Chain Asset Transfer
Question 1: In the Vehicle Lifecycle demonstration scenario, which of the following statements is true?
- Participants can only see those transactions they submit to the blockchain
- Participants can only submit transactions to the blockchain and must keep a local copy if they want to view them later
- Participants in the network can see every transaction in the network
- Participants in the network have visibility of transactions they are permissioned to see correct
Block Chain Essentials Final Exam Answers – Cognitive Class
Question 1: 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
Question 2: 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
Question 3: What qualities of service does blockchain give to a business network?
- Efficiency, dynamicity, cognitive processes and reliability incorrect
- Centralization, social enabled, Internet of Things, Web 3.0
- Consensus, provenance, immutability, and finality
- Scalability, reliability, security, maintainability
Question 4: 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
Question 5: 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
Question 6: Who would often be considered a key stakeholder when implementing a blockchain for business?
- Miners
- Cryptocurrency exchanges
- Token factories
- Regulators
Question 7: 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
Question 8: 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
Question 9: 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
Question 10: 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
Question 11: 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 correct
Question 12: Which of the following best describes the Hyperledger Greenhouse?
- 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 correct
Question 13: What does the “provenance” quality of service provide to blockchain?
- Agreement that a transaction occurred
- History of transactions correct
- An append-only data structure
- Transactions cannot be backed out
Question 14: Which of the following facts about assets is true?
- Assets are anything that is capable of being owned or controlled to produce value correct
- 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
Question 15: Which of the following is true regarding the blockchain solutions?
- TradeLens provides shared visibility and state for container shipments
- IBM Food Trust provides end-to-end traceability of food in the supply chain
- IBM World Wire allows banks and financial institutions to send and settle payments with finality in seconds
- All of these facts are true
Introduction to Block Chain Essentials
Blockchain is a decentralized, distributed ledger technology that serves as the foundation for cryptocurrencies like Bitcoin, but its applications go far beyond digital currencies. Here are some essential concepts:
- Decentralization: Unlike traditional centralized systems where a single entity controls data, in a blockchain, data is distributed across a network of computers (nodes). This decentralization enhances security and eliminates the need for a central authority.
- Blocks: Data in a blockchain is grouped into blocks, each containing a set of transactions. These blocks are linked together in chronological order, forming a chain.
- Cryptographic Hash Function: Each block contains a unique cryptographic hash (a string of characters) generated based on the block’s data. This hash is crucial for maintaining the integrity of the blockchain.
- Consensus Mechanisms: To validate and add blocks to the blockchain, consensus mechanisms are used. Popular ones include Proof of Work (PoW) and Proof of Stake (PoS). PoW requires miners to solve complex mathematical puzzles to validate transactions, while PoS involves validators staking cryptocurrency to confirm transactions.
- Immutability: Once a block is added to the blockchain, it’s extremely difficult to alter its contents due to cryptographic hashing and the distributed nature of the network. This immutability enhances security and trust in the data.
- Smart Contracts: These are self-executing contracts with the terms directly written into code. They automatically execute and enforce the terms of an agreement when predefined conditions are met. Ethereum is a popular blockchain platform for deploying smart contracts.
- Public vs. Private Blockchains: Public blockchains like Bitcoin and Ethereum are open to anyone to participate and view. Private or permissioned blockchains restrict access to certain users or entities, often used in enterprise settings for increased privacy and control.
- Use Cases: Blockchain has applications across various industries beyond finance, including supply chain management, healthcare, voting systems, and identity verification. Its transparent and tamper-resistant nature makes it suitable for scenarios requiring trust and transparency.
Understanding these fundamental concepts is essential for grasping the potential of blockchain technology and its impact on various sectors.
