Block Chain Technologies (AL-802 (A)) - Important Questions

What is a public ledger and how does it function in the context of financial transactions?

Explain the concept of smart contracts and their potential applications in various industries.

What is the concept of a block within a block in blockchain technology and how does it contribute to the overall structure?

Explain the concept of a Merkle tree and its role in ensuring efficient data verification in blockchain technology.

What is the Bitcoin peer-two-peer (P2P) network and how does it facilitate the transfer of bitcoins between users?

What is HashCash Proof of Work (PoW), and how does it contribute to the security of digital currencies like Bitcoin?

What are the daily challenges and routines in the life of a Bitcoin miner, and how do they contribute to the functioning of the Bitcoin network?

What are the design considerations for implementing a permissioned blockchain?

Explain the Paxos algorithm and its role in achieving distributed consensus.

What is the Byzantine General Problem, and how does it relate to distributed consensus?

How does the Lamport-Shostak-Pease algorithm handle Byzantine faults in a distributed system?

Write a short notes on :-

What are the key components of the KYC process and why is it important for financial institutions?

What potential impact does blockchain technology have on international trade and global supply chains?

How does Hyperledger Fabric achieve modularity and scalability in its architecture?