A user broadcasts a Bitcoin transaction with a fee that is too low to be included in the next block. The user wants to ensure the transaction confirms without waiting indefinitely. Which action is most appropriate?

Cancel the transaction by sending a conflicting transaction with a higher fee.

Broadcast the same transaction again with a higher fee.

Use Replace-By-Fee (RBF) to resubmit the transaction with a higher fee.

Wait for the mempool to clear and hope the transaction confirms.

In a Bitcoin transaction, what does the 'input' section contain?

The recipient's public address and the amount to send

The block hash where the funds were originally mined

The sender's private key and the transaction fee

A reference to a previous transaction output (UTXO) and a script that unlocks it

A developer is creating a custom Bitcoin wallet and needs to spend a UTXO that is locked with a P2PKH script. What must the wallet provide in the unlocking script (scriptSig) to satisfy the locking script?

A digital signature and the public key that hashes to the address in the locking script.

A valid transaction ID and output index of the UTXO being spent.

A second signature from a multi-signature wallet to authorize the spend.

The private key itself, which the network uses to verify ownership.

In the Bitcoin blockchain, how are blocks linked to form the chain?

Each block contains the complete list of all previous transactions.

Blocks are linked by a sequential number stored in each block.

Each block stores the hash of the previous block in its header.

Blocks are linked by storing the public keys of the previous miner.

EC-CouncilBlockchain Fintech Certification

Domain 6Objective 5

Bitcoin Blockchain Architecture and Network Transactions BFC Practice Questions (Page 3)

Part of the Digital Currencies and Cryptocurrencies domain, which makes up ~15% of our current practice bank.

54questions here

11free pages

12concepts

Questions 11–15

11expert · hard
A user broadcasts a Bitcoin transaction with a fee that is too low to be included in the next block. The user wants to ensure the transaction confirms without waiting indefinitely. Which action is most appropriate?
Select an answer first
12foundation · easy
In a Bitcoin transaction, what does the 'input' section contain?
Select an answer first
13application · medium
A developer is creating a custom Bitcoin wallet and needs to spend a UTXO that is locked with a P2PKH script. What must the wallet provide in the unlocking script (scriptSig) to satisfy the locking script?
Select an answer first
14application · easy
A Bitcoin investor is calculating the total supply after the next halving. Currently, the block subsidy is 6.25 BTC. After the next halving, what will the block subsidy be?
Select an answer first
15foundation · easy
In the Bitcoin blockchain, how are blocks linked to form the chain?
Select an answer first

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