Blockchain Technology and Cryptocurrencies MCQs

1. What is a blockchain?
(A) A social media platform
(B) A centralized server
(C) A decentralized digital ledger
(D) A type of antivirus software

2. Which cryptocurrency was the first to be created?
(A) Ethereum
(B) Ripple
(C) Bitcoin
(D) Litecoin

3. Who is the inventor of Bitcoin?
(A) Elon Musk
(B) Vitalik Buterin
(C) Satoshi Nakamoto
(D) Charles Hoskinson

4. What is the process of verifying cryptocurrency transactions and adding them to the blockchain called?
(A) Trading
(B) Hashing
(C) Mining
(D) Uploading

5. Which technology ensures the security of blockchain transactions?
(A) Firewalls
(B) Encryption
(C) Artificial Intelligence
(D) Cloud Computing

6. What is a smart contract?
(A) A contract written on paper
(B) A contract created by lawyers
(C) Self-executing code stored on a blockchain
(D) A type of cryptocurrency wallet

7. What does the term “decentralized” mean in blockchain?
(A) Controlled by a central authority
(B) Stored in a single server
(C) Distributed across multiple nodes
(D) Non-digital system

8. Which of the following is a popular blockchain used for smart contracts?
(A) Bitcoin
(B) Ethereum
(C) Dogecoin
(D) Litecoin

9. What is the purpose of a cryptocurrency wallet?
(A) To print digital coins
(B) To design websites
(C) To store and manage private keys for transactions
(D) To regulate cryptocurrency prices

10. Which of the following best describes a public blockchain?
(A) Accessible only to banks
(B) Controlled by one organization
(C) Open for anyone to read and write
(D) Completely offline