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Last active October 16, 2019 01:34
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Thinkful jQuery CP 8 - Quiz Wireframe Notes
Quiz Topic: Blockchains/Cryptocurrency
--- Quiz Questions ---
Q1: Which best describes a blockchain?
A1: A linked list
A2: A chronologically orderded ledger of blocks of data
A3: A decentralized currency
A4: A database
Answer: A2. A blockchain is a data structure which consists of blocks of data, such as transactions. Each block contains a reference to the previous block, such that it is guaranteed to have been created after the previous block, otherwise the reference to the previous block could not be created. This provides a good way to track transactions or state in a distributed network, with each block being a snapshot of time. Earlier history cannot be altered because that would alter the previous block references in every following block. Many decentralized cryptocurrency networks use blockchains to store the state of the transaction ledger.
Q2: What does "crypto" refer to in the context of cryptocurrency?
A1: The use of cryptography to allow users to digitally sign transactions and prove ownership of coins
A2: The design is cryptic to make the software hard to exploit
A3: The internet traffic is cryptographically encrypted
A4: The subculture of its users is cryptic and outside mainstream finance
Answer: A1. Cryptocurrencies use public key cryptography to mathematically prove which users own which coins, preventing hackers from stealing money. The owner of some cryptocurrency has a "private key" which is like a password to spend the coins. A private key has a corresponding public key, which is like an email address to which others can send money to. It is crucial for users to keep their private keys secret, otherwise someone else could use it to steal their money!
Q3: What best describes "decentralized" in the context of decentralized cryptocurrency?
A1: Users are geographically distributed
A2: The software uses a blockchain
A3: No single party has control over the network
A4: The servers do not have a single point of failure
Answer: A3. While all of these answers are generally true for cryptocurrencies, decentralization refers to the property that no single party can control the state of the network. This means that users of the network do not have to trust any particular individual, company, or government to process their transactions. This is in contrast to a centralized currency, such as one issued by a government.
Q4: What best describes the purpose of a consensus algorithm in the context of decentralized cryptocurrency?
A1: determines who owns what coins
A2: allows a decentralized network to reach agreement about the history of the transaction ledger
A3: handles disputes between cryptocurrency users
A4: counts votes to determine if ballot measures pass or fail
Answer: A2. Consensus algorithms are used in decentralized cryptocurrencies to come to consensus about transactions. They are designed to prevent a single party from controlling the state of the network, such that no one could censor transactions or alter their order.
Q5: What is the consensus algorithm called that Bitcoin uses?
A1: Fraud proofs
A2: Public key cryptography
A3: Proof of stake
A4: Proof of work
Answer: A4. The Bitcoin network uses a consensus algorithm called Proof of Work. It relies on users running specialized hardware (called miners) that computes proofs to secure the transaction history. Proof of stake is also a type of consensus algorithm used by other cryptocurrencies.
--- Quiz Wireframe Sketch ---
Hand drawn wireframes:
https://drive.google.com/open?id=1FTtleVV2CYqt_GGLbOubGJLhuhsdJHiz
Digital wireframes:
https://drive.google.com/open?id=1uISxv7t5476SUH0vEHFstm-65YEOsb12
--- HTML Wireframes ---
Github repo:
https://github.com/jgrizzled/blockchain-quiz-app/tree/master/wireframes
Homepage:
https://jgrizzled.github.io/blockchain-quiz-app/wireframes/homepage.html
Quiz:
https://jgrizzled.github.io/blockchain-quiz-app/wireframes/quiz.html
Quiz modal:
https://jgrizzled.github.io/blockchain-quiz-app/wireframes/quiz-modal.html
Summary:
https://jgrizzled.github.io/blockchain-quiz-app/wireframes/summary.html
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