Blockchain Fundamentals
Free EC-Council Certified Blockchain Professional practice — 6 questions on Blockchain Fundamentals, with explanations. No sign-up. Full 12-question mixed test →
A consortium of 12 competing banks needs a distributed ledger where each transaction is visible only to the counterparties involved (not broadcast to all participants), requires deterministic transaction finality, and does not need a native cryptocurrency. Which platform architecture BEST meets these requirements?
Corda was purpose-built for regulated financial consortiums; it uses a need-to-know data model where only transaction counterparties (and relevant notaries) see a transaction, and notary pools provide deterministic finality without a native token.
Bitcoin's mining difficulty adjustment algorithm recalculates the network difficulty every ____ blocks in order to maintain an average block time of ____ minutes.
Bitcoin recalculates difficulty every 2016 blocks (roughly every two weeks) to keep the average block interval at 10 minutes regardless of changes in total network hash rate.
A startup issues a blockchain-based token that grants holders voting rights over company decisions and a proportional share of future platform profits. The token is marketed to the general public as an investment opportunity. Under the classification frameworks covered in C|BP, this token is BEST described as a:
A token that confers profit-sharing and equity-like rights, and is sold with an expectation of profit from the efforts of others (Howey Test characteristics), is classified as a security token and is subject to securities regulation.
Which statement correctly differentiates Bitcoin's UTXO (Unspent Transaction Output) model from an account-based model like Ethereum's?
Bitcoin's ledger state is the set of unspent outputs; a transaction spends specific prior outputs and creates new outputs. Ethereum instead maintains an explicit balance and nonce per account, updated in place with each transaction.
As of 2026, following Bitcoin's most recent halving event (April 2024), the block reward halves approximately every ____ blocks, and the current block subsidy is ____ BTC per block.
Bitcoin halves the block subsidy every 210,000 blocks (~4 years). The April 2024 halving reduced the reward from 6.25 BTC to 3.125 BTC, which remains the current reward as of 2026 (the next halving to 1.5625 BTC is expected around 2028).
An enterprise blockchain project wants a consensus mechanism that minimizes energy consumption, does not require staking capital, and uses a lottery-style leader election backed by a trusted execution environment to fairly select block producers among known, permissioned validators. Which consensus mechanism BEST fits this requirement?
PoET, used in Hyperledger Sawtooth, uses a hardware-based trusted execution environment (e.g., Intel SGX) to generate a random wait time for each validator, fairly and energy-efficiently selecting a leader without competitive computation or capital staking — ideal for permissioned enterprise networks.
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