a
. What is blockchain?
→ A decentralized digital ledger.
What is mining?
The process of validating transactions and adding blocks.
Q: Why was the double-spending problem a major obstacle before blockchain?
A: Because digital money could be copied and spent twice without a central authority.
What is the name of the first cryptocurrency launched in 2009?
bitcoin
Why is private key security essential?
A: Because whoever controls the private key controls the wallet and funds.
Q: Why are mining farms compared to industrial data centers today?
A: Because they require specialized hardware, constant electricity, and 24/7 operation.
Q: What is the maximum supply of Bitcoin?
A: 21 million
Q: Which consensus mechanism does Bitcoin use?
A: Proof of Work (PoW)
Q: What is the name of Ethereum’s creator?
A: Vitalik Buterin
Q: Who published the Bitcoin white paper in 2008?
A: Satoshi Nakamoto
Q: What is the special mining hardware called that calculates SHA-256 very fast?
A: ASIC (Application-Specific Integrated Circuit)
: Which cryptocurrency introduced smart contracts in 2015?
A: Ethereum
Q: What was the name of David Chaum’s anonymous digital payment system in 1989?
A: DigiCash (eCash)
Q: What cryptographic method did DigiCash use to ensure anonymity?
A: Blind signatures
Q: What is the name of Adam Back’s system that later inspired Proof-of-Work?
A: HashCash
Q: Which cryptocurrency is known as “silver to Bitcoin’s gold”?
A: Litecoin
Q: What value must Bitcoin miners find that produces a hash lower than the network target?
A: Nonce
Q: What happens to Bitcoin mining rewards approximately every four years?
A: Halving
Q: Which privacy coin hides sender, receiver, and transaction amount completely?
A: Monero
Q: Which cryptocurrency was designed mainly for fast cross-border payments for banks and has no mining?
A: Ripple (XRP)
Q: What type of token gives holders voting power in decentralized platforms?
A: Governance token
Q: Which 1998 proposal introduced the idea of “b-money,” an early decentralized digital currency?
A: Wei Dai
Q: Which early digital currency concept was proposed by Nick Szabo and inspired by gold?
bit gold
Q: Which cryptographer invented blind signature technology used in DigiCash?
A: David Chaum
Q: What is the name of the mining company that produces Antminer devices?
A: Bitmain