- ATrue
- BFalse
False.
Cryptocurrency is not authorized in all countries. The legal status of cryptocurrency varies from country to country, with some countries accepting it as a legal form of payment, while others have banned or restricted its use. Some countries are still in the process of developing regulations to address cryptocurrency and its impact on financial systems. It is important to research and understand the regulations in your country before investing in or using cryptocurrency.
False.
The value of coins such as Bitcoin and Litecoin varies across different exchanges that actively trade them. This is because cryptocurrency exchanges operate independently and have different levels of liquidity, trading volumes, and user demand. Therefore, the market price of a particular cryptocurrency may differ between exchanges due to supply and demand dynamics, transaction fees, and other factors. This creates opportunities for traders to arbitrage between exchanges, buying low on one exchange and selling high on another. As a result, it is important to compare prices across different exchanges before buying or selling cryptocurrencies to get the best price possible.
True.
Hash is commonly used in the blockchain network to ensure the integrity of data. A hash function is a mathematical function that takes an input (data) and produces a fixed-size output (hash). This output is unique to the input data and any change in the input data will result in a different hash value. In the blockchain, each block contains a hash of the previous block in the chain, which creates an immutable record of all the previous transactions. This ensures that the data stored on the blockchain cannot be altered or tampered with, providing a high level of security and integrity to the network. Additionally, hash functions are used to verify the authenticity of digital signatures, which are used to ensure the identity of the sender and receiver in a transaction.
Hyperledger
False. The value of coins, such as litecoin and bitcoin, may vary across different exchanges that actively trade them due to various factors such as demand, supply, trading volume, and market conditions.
True. The value of cryptocurrency is dependent on market conditions and can be subject to significant fluctuations.
Peer to peer currency
The statement is true. The computational power of the network adjusts the difficulty level of mining to ensure that new blocks are added to the blockchain at a steady rate. This is accomplished through a process called the mining difficulty adjustment, which makes it more difficult to mine new blocks as more computational power is added to the network, and easier to mine new blocks if computational power leaves the network. This adjustment helps to maintain the security and integrity of the blockchain network.