Notes

Identify the limitation(s) of the Internet for business and economic activity.
Question 26 Select one or more:

a.
We can’t reliably establish one another’s identities online without a third party.

b.
Powerful intermediaries collect our data and invade our privacy.

c.
The economic benefits of the Internet have been asymmetrical.

d.
All of the above

27.What is the main distinguishing factor of Bitcoin as a currency, relative to all prior currencies?

Question 27 Select one:

a.
It is not legal tender


b.
It exists in digital form


c.
It has no central issuer


d.
It is not backed by a commodity



28.Which of the following is true about cryptographic hash functions?

Choose all that apply.

Question 28 Select one or more:

a.
It is extremely unlikely to generate a message that has a given hash


b.
It is extremely unlikely to find two different messages with the same hash


c.
It is easy to compute a predetermined hash value


d.
It is easy to calculate whether a hash responds to a specific message


29. Which of the following is true about the Bitcoin blockchain?
Question 29 Select one:

a.
It represents the first distributed system for peer-to-peer exchange.

b.
It represents the first online implementation of cryptography.

c.
It represents the first system for digital cash.

d.
All of the above

e.
None of the above


30.What is the process called that involves competing to find solutions to a mathematical problem while processing bitcoin transactions?

Question 30 Select one:

a.
hashing


b.
mining


c.
encryption