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Blockchain Fundamental Flashcards

7 cards from real CBCP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What is a 'distributed ledger' and how does it differ from a traditional centralized database?

    Answer: A record-keeping system replicated across multiple independent nodes with no single controlling authority

    A distributed ledger is shared and synchronized across many nodes independently operated, eliminating the single point of control and failure inherent in centralized databases.

  2. In the Bitcoin network, what determines the mining difficulty adjustment?

    Answer: The network targets an average block time of 10 minutes, adjusting difficulty every 2,016 blocks

    Bitcoin's protocol recalculates mining difficulty every 2,016 blocks (approximately two weeks) to maintain the 10-minute average block interval regardless of total hash rate.

  3. What is the purpose of the UTXO (Unspent Transaction Output) model used in Bitcoin?

    Answer: To track discrete units of cryptocurrency that have been received but not yet spent, preventing double-spending

    The UTXO model treats each coin as a discrete output; spending requires referencing existing UTXOs, and any remainder creates a new UTXO, ensuring each coin is spent only once.

  4. How does the account-based model used by Ethereum differ from Bitcoin's UTXO model?

    Answer: Ethereum records balances as account states rather than tracking individual unspent outputs

    Ethereum maintains a global state of account balances that are updated with each transaction, simplifying smart contract logic compared to the UTXO model.

  5. What is 'gas' in the context of the Ethereum blockchain?

    Answer: A unit measuring the computational effort required to execute operations, paid in ETH by the sender

    Gas quantifies the computation each Ethereum operation requires; users pay gas fees in ETH to compensate validators and prevent network spam.

  6. Which type of node in a blockchain network stores a complete copy of the entire transaction history?

    Answer: Full node

    A full node independently downloads and validates every block and transaction from the genesis block, maintaining the complete chain history.

  7. What is 'tokenization' in the blockchain ecosystem?

    Answer: The conversion of real-world assets or rights into digital tokens on a blockchain

    Tokenization represents ownership, rights, or value of real-world assets (real estate, art, equity) as digital tokens on a blockchain, enabling fractional ownership and programmable transfer.