Bitcoin Magister

Welcome to the Bitcoin Magister Quiz!

Are you a Bitcoin expert ready to push the limits? This advanced test is designed to challenge even the most experienced professionals in the field of Bitcoin. Get ready for a stimulating and challenging experience!

1 / 20

Who is the author of the "Cypherpunk Manifesto"?

Julian Assange.

Edward Snowden.

Eric Hughes.

Ross Ulbricht.

2 / 20

What is the meaning of "locking script" and "unlocking script" within Bitcoin transactions?

"Locking script" defines the sender's address, while "unlocking script" specifies the amount to be sent.

"Locking script" refers to the input of a transaction, while "unlocking script" refers to the output.

"Locking script" refers to the security protocol of a transaction, while "unlocking script" refers to the recipient's address.

"Locking script" defines conditions to lock funds, while "unlocking script" contains digital signatures and information to unlock them.

3 / 20

What is the main objective of "Rootstock"?

Providing an identification system for Bitcoin users.

Introducing a new hashing algorithm to improve Bitcoin security.

Implementing the ability for smart contracts on the Bitcoin network.

Creating a new consensus algorithm for Bitcoin.

4 / 20

Who was the first recipient of a Bitcoin transaction from Satoshi Nakamoto?

Hal Finney.

Roger Ver.

Gavin Andresen.

Nick Szabo.

5 / 20

TapRoot is an upgrade of the Bitcoin protocol placed to:

Changing how Bitcoin scripts operate to increase block sizes.

Helping developers receive donations.

Generate a transaction history of the wallet to prevent the movement of funds seized by law enforcement.

changing how scripts operate to improve privacy, scalability, and security.

6 / 20

What does the acronym "UASF" represent?

Universal Advanced Staking Framework.

User Activated Soft Fork.

Unusually Activated Standard Function.

User Affirmed Security Feature.

7 / 20

What is a "Multisignature" transaction?

A transaction requiring approval from multiple users to be confirmed.

A transaction involving more than one destination address.

A transaction that does not require the use of digital signatures to be validated.

A transaction that can only be made by users with a high balance.

8 / 20

What is "Eltoo"?

A privacy protocol for hiding Bitcoin transactions.

A new hashing algorithm for the Bitcoin blockchain.

A scalability technique to improve on-chain transaction management.

A protocol to enhance channel state management within the Lightning Network.

9 / 20

After how many blocks does a "Halving" cycle conclude?

375,000.

1 Million.

150,000.

210,000.

10 / 20

What is the name of the privacy-oriented digital payment system created by David Chaum in 1989?

eBit.

E-gold.

eCash.

BitCash.

11 / 20

How could the programming language "Simplicity" facilitate development for the Bitcoin network?

Simplifying the creation of smart contracts.

Enhancing the security of smart contracts.

All answers are correct.

Increases the speed of executing smart contracts.

12 / 20

Who invented Smart Contracts?

Vitalik Buterin.

Nick Szabo.

Gavin Andresen.

Hal Finney.

13 / 20

Which of these is the currency invented by Douglas Jackson in 1996 and based on a digital payment system backed by gold?

V-Gold.

BitGold.

E-Gold.

E-Cash.

14 / 20

The hacker who hit MTGox exploited a bug that allowed him to:

Modifying the amount of Bitcoin sent in a transaction.

Creating fake Bitcoin addresses.

Intercepting users' private keys.

Changing the signature of a transaction without altering its inputs and outputs.

15 / 20

What are "Schnorr Signatures"?

An off-chain solution for creating new Bitcoin transactions.

A digital signature technology that allows multiple signatures to be aggregated into one.

A new consensus algorithm devised by Schnorr.

A method to increase transaction speed on Bitcoin.

16 / 20

What is the formula to calculate the weight of a "SegWit" transaction?

(Transaction size + Witness data) * 3 + Transaction size.

Transaction size * 4.

(Transaction size - Witness data) * 3 + Transaction size.

(Transaction size / Witness data) * 3 + Transaction size.

17 / 20

What is a "Covenant"?

A restriction imposed on Bitcoin addresses to determine how they can be spent.

A restriction imposed on Bitcoin addresses to determine who owns the private keys.

A technique to increase the privacy of Bitcoin transactions.

A Bitcoin transaction without digital signatures.

18 / 20

What is "Timelock" in Bitcoin transactions?

A digital signature used to verify the date and time of a transaction.

A feature that delays the inclusion of a transaction in a block.

A technology to make transactions irreversible over time.

A digital clock used to synchronize transactions between nodes.

19 / 20

What is the name of the company promoting the first privacy-oriented digital payment system created by David Chaum in 1989?

BitPay.

PayPal.

E-gold.

DigiCash.

20 / 20

What is the "Nash Equilibrium"?

A state where participants in a decentralized network receive high rewards.

A situation where no player has an interest in changing their unilateral strategy.

The point at which cryptocurrency prices reach their maximum value.

A situation where each player has an interest in changing their unilateral strategy.

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