Chapter Questions
What is the difference between blockchain and a distributed ledger?
What are three different metaphors you could use to explain to your grandmother how blockchain works?
Is blockchain trustworthy? Why?
What is the difference between blockchain, Bitcoin, Ethereum, and Ripple (XRP)?
What is the difference between a public key and a private key?
What are the four main components of a blockchain ecosystem?
What are the different types of blockchain and what is the value of each?
Identify and explain the six top features or properties of blockchains.
What is a blockchain block and how is it created?
Can blockchain blocks be modified?
What type of data can be stored in a blockchain?
What is the double spending problem and how does blockchain overcome it?
What is a consensus algorithm?
Identify and explain ten different types of consensus algorithm.
What are the top five platforms for developing blockchain applications?
How is a smart contract different from a normal contract?
How is a dApp different from a normal app?
Explain how cryptocurrency mining works.
What problems does blockchain sharding solve?
What are the top five blockchain applications or types of use cases?
What are the top five accounting organizations successfully leveraging blockchain technology and how are they using it?
What is the business value of blockchain? What six areas of business value have been identified in this chapter?
Of all the blockchain use cases, which offers the biggest opportunity for cost reduction?
Of all the blockchain use cases, which offers the best opportunity for business model innovation?
Of all the blockchain use cases, which offers the best opportunity for product innovation?
Of all the blockchain use cases, which offers the best opportunity for safeguarding the security and privacy of stakeholder data?
Of all the blockchain use cases, which offers the best opportunity to enhance the adaptability and agility of organizations?