Bitcoin Blockchain Architecture and Network Transactions BFC Practice Questions (Page 1)

Questions 1–5

1. 1application · medium

   A mining pool operator is planning hardware purchases for the next two years. The operator knows the next Bitcoin halving is approaching. Which planning consideration is most directly affected by the halving?

   • AThe transaction fee will automatically double to maintain miner revenue.
   • BThe block size will increase to compensate for the reduced subsidy.
   • CThe difficulty adjustment will become twice as frequent, requiring more frequent recalibration of hardware.
   • DThe block subsidy will drop by half, reducing mining revenue unless the Bitcoin price rises or fees increase.
   Reveal Solution Discussion Select an answer first
2. 2foundation · easy

   What is the primary role of a full node in the Bitcoin network?

   • ATo provide a user-friendly interface for sending and receiving bitcoin
   • BTo validate transactions and blocks according to consensus rules
   • CTo mine new blocks by solving proof-of-work puzzles
   • DTo store only the headers of blocks to save space
   Reveal Solution Discussion Select an answer first
4. 3expert · hard

   A bitcoin node operator is deciding whether to upgrade to a new client version that implements a soft fork. The operator runs a business that relies on accepting bitcoin payments. What is the most important consideration?

   • AThe operator must upgrade immediately to avoid accepting invalid transactions.
   • BThe operator must upgrade to continue mining, as old miners cannot produce valid blocks after a soft fork.
   • CThe operator must upgrade to avoid a chain split that would create a new cryptocurrency.
   • DThe operator can continue running the old client, but may not validate new transaction types or rules introduced by the soft fork.
   Reveal Solution Discussion Select an answer first
5. 4application · medium

   A retail business accepts Bitcoin and runs a lightweight (SPV) wallet on a point-of-sale terminal. The terminal shows a payment as 'unconfirmed' for over an hour. The business wants faster confirmation. Which action is most effective?

   • AIncrease the transaction fee on future payments to incentivize miners to include them sooner.
   • BWait for the mempool to clear, as all transactions eventually confirm regardless of fee.
   • CAsk the customer to send the payment again with a higher amount.
   • DSwitch the wallet to a full node to directly broadcast transactions to more peers.
   Reveal Solution Discussion Select an answer first
6. 5expert · hard

   A bitcoin mining pool is evaluating whether to continue mining after the next halving. They have access to cheap electricity but their hardware is older and less efficient. What is the most important factor in their decision?

   • AThe age of their mining hardware.
   • BThe current bitcoin price and the expected price after the halving.
   • CThe number of transactions in the mempool.
   • DThe difficulty of the network, which will decrease after the halving.
   Reveal Solution Discussion Select an answer first