In PBFT-based consensus, when is a transaction considered final?

After a time delay to ensure network stability

After a majority of nodes have validated the transaction

Immediately after the block is committed by the consensus protocol

After a certain number of confirmations are added

Why is finality important for regulatory compliance in financial systems?

Regulators require certainty about when a transaction is final to ensure accurate reporting and to prevent fraud

Finality is not relevant to regulatory compliance

Finality ensures that all transactions are anonymous

Finality allows regulators to reverse transactions if needed

In Proof of Stake, what is the purpose of slashing?

To reward validators for producing blocks

To penalize validators who act maliciously or violate consensus rules, thereby enforcing finality

To reduce the time it takes to finalize a block

To increase the number of validators in the network

A merchant accepts cryptocurrency payments and waits for 6 confirmations on a PoW chain. A deep chain reorganization occurs, and a previously confirmed transaction is no longer in the canonical chain. What is the most accurate description of what happened?

The transaction lost probabilistic finality because the chain reorged

The merchant should have used a private blockchain

The transaction has immediate finality

The transaction was never valid

EC-CouncilBlockchain Fintech Certification

Domain 2Objective 4

Finality in Blockchain Consensus BFC Practice Questions (Page 5)

Part of the Consensus Mechanisms for Financial Systems domain, which makes up ~11% of our current practice bank.

45questions here

9free pages

8concepts

Questions 21–25

21foundation · easy
In PBFT-based consensus, when is a transaction considered final?
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22foundation · easy
Why is finality important for regulatory compliance in financial systems?
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23application · medium
A consortium bank is evaluating a PoS-based blockchain for interbank settlement. The bank requires that once a transaction is finalized, it cannot be reverted, even if a validator later behaves maliciously. Which PoS feature directly provides this guarantee?
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24foundation · easy
In Proof of Stake, what is the purpose of slashing?
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25application · medium
A merchant accepts cryptocurrency payments and waits for 6 confirmations on a PoW chain. A deep chain reorganization occurs, and a previously confirmed transaction is no longer in the canonical chain. What is the most accurate description of what happened?
Select an answer first

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