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EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q46-Q51):
NEW QUESTION # 46
A____does not result in a new chain and does not require client nodes to upgrade.
Answer: B
Explanation:
Asoft forkis a change to a blockchain protocol that is backward-compatible, meaning it does not result in the creation of a new chain and does not require all client nodes to upgrade. Nodes that do not upgrade can still participate in the network, although they may not have access to all new features introduced by the soft fork.
Key Details:
* Backward Compatibility: In a soft fork, updated nodes enforce the new rules, while non-updated nodes continue to follow the older protocol but remain part of the same blockchain. This contrasts with hard forks, where incompatibility leads to the creation of a new chain.
* Use Cases: Soft forks are commonly used to implement protocol upgrades or adjustments that do not fundamentally alter the structure of the blockchain, such as increasing block size limits or adding new features that are optional.
* Examples: An example of a soft fork is the Segregated Witness (SegWit) update on the Bitcoin blockchain, which was implemented to increase block capacity without splitting the chain.
Thus,B. Soft forkis the correct answer, as it refers to a backward-compatible update that does not require a new chain or mandatory upgrades from all nodes.
NEW QUESTION # 47
Which of the following is a language for working with Ethereum?
Answer: C
Explanation:
Solidityis the primary programming language used for developing smart contracts on the Ethereum blockchain. It is a statically typed, high-level language similar to JavaScript and C++, and it is specifically designed for creating contracts that run on the Ethereum Virtual Machine (EVM).
Key Details:
* Purpose of Solidity: Solidity was created by the Ethereum team to enable the development of smart contracts that automate the execution of blockchain-based applications. Its syntax is designed to be familiar to developers experienced in other programming languages, which helps in onboarding and learning.
* Compatibility and Flexibility: As a Turing-complete language, Solidity allows for the development of complex smart contracts and decentralized applications (DApps) with conditional logic, loops, and more. It is widely used in the DeFi space and beyond.
* Ethereum Test Networks: Other options listed, such asRinkebyandKovan, refer to Ethereum test networks where developers test smart contracts, but they are not languages themselves.Mistis an Ethereum wallet interface, not a programming language.
Thus,C. Solidityis the correct answer, as it is the language specifically designed for working with Ethereum smart contracts.
NEW QUESTION # 48
When using __________ the chain of ownership is established by a chain of digital signatures as each owner signs when transferring ownership.
Answer: C
Explanation:
The UTXO (Unspent Transaction Output) model establishes a chain of ownership by using digital signatures.
In this model, each transaction consists of inputs (from previous UTXOs) and outputs (new UTXOs), and ownership is transferred by the current owner signing the transaction. This digital signature is then verified by the recipient, ensuring a secure and traceable chain of ownership.
Key Details:
Functionality of UTXO: UTXO is a fundamental part of Bitcoin's transaction model. When a transaction occurs, it consumes previous outputs as inputs, generating new UTXOs. Each UTXO can only be spent once, and ownership is verified through cryptographic signatures.
Chain of Ownership: The UTXO model inherently creates a clear and verifiable chain of ownership, as each output is signed by the current owner and used as input for future transactions, maintaining a continuous and transparent record of asset transfers.
Security through Digital Signatures: UTXO-based transactions rely on digital signatures to authenticate and authorize asset transfers, ensuring that only the rightful owner can initiate a transaction.
Thus, D. UTXO is the correct answer, as it accurately describes the model where ownership is established through a chain of digital signatures.
NEW QUESTION # 49
_______uses a Trusted Execution environment (TEE) to provide randomness and safety in the leader election process via a guaranteed wait time.
Answer: D
Explanation:
Proof of Elapsed Time (PoET)is a consensus mechanism that uses a Trusted Execution Environment (TEE) to ensure randomness and safety in the leader election process by enforcing a guaranteed wait time.
Developed by Intel, PoET is particularly used in permissioned blockchain networks where a TEE can securely run code to determine which node is elected to propose the next block. This mechanism is efficient in terms of energy consumption and provides a fair method for selecting a leader without requiring intensive computational power.
Key Details:
* Role of TEE in PoET: The TEE ensures that nodes wait for a random period before being eligible to propose a new block. This waiting period is verified by the TEE, which acts as a trusted third party to confirm that nodes have adhered to the assigned wait time.
* Randomness and Security: PoET provides randomness in the leader selection process, reducing the chances of any node gaining an unfair advantage. It also promotes security by leveraging the TEE, which is designed to prevent tampering with the waiting time calculations.
* Use Cases: PoET is mainly used in permissioned blockchain environments like Hyperledger Sawtooth, where nodes are pre-approved, and there is a need for a scalable yet secure consensus mechanism.
In summary, PoET is the correct answer as it directly refers to a consensus mechanism that utilizes a Trusted Execution Environment for leader election.
NEW QUESTION # 50
______is a computer program that runs stop a blockchain and embedded within it are governance and business logic rules
Answer: C
Explanation:
Decentralized Applications (Dapps)are applications that run on a blockchain network and include embedded governance and business logic rules. Unlike traditional applications, Dapps are decentralized, meaning they operate on a peer-to-peer network rather than a centralized server, leveraging smart contracts to automatically enforce rules and protocols without intermediaries.
Key Details:
* Characteristics of Dapps: Dapps are open-source, operate autonomously, and store data on a blockchain. They utilize smart contracts to handle various functions, from transaction processing to enforcing governance rules and executing business logic.
* Smart Contracts: The embedded rules within Dapps are typically coded as smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code. This ensures that all transactions and operations within the Dapp are transparent, immutable, and automatically enforced.
* Use Cases: Dapps are commonly found in areas such as decentralized finance (DeFi), gaming, supply chain management, and social media, offering users more control and transparency compared to traditional applications.
In conclusion,Dapps (A)is the correct answer as it refers to computer programs running on a blockchain with embedded governance and business logic rules.
NEW QUESTION # 51
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