Highly-Praised 312-82 Qualification Test Helps You Pass the EC-Council Blockchain Fintech CertificationB|FC exam Exam - ITCertMagic

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EC-COUNCIL 312-82 Exam Syllabus Topics:

Topic	Details
Topic 1	Blockchain’s Cryptocurrency Assets: This segment tests the proficiency of professionals like cryptocurrency traders in the area of cryptocurrency assets. It examines the role of blockchain in creating and managing digital currencies like Bitcoin and Ethereum, as well as its broader impact on the financial world.
Topic 2	Bitcoin: This module zeroes in on Bitcoin, the first and most prominent cryptocurrency. It tests the understanding of blockchain developers about how Bitcoin works, its impact on the financial landscape, and the challenges and opportunities related to its adoption as a digital currency.
Topic 3	Security in Blockchains: This part assesses the knowledge of cybersecurity experts, IT auditors, and compliance professionals in securing blockchain systems.
Topic 4	Financial Applications: This section assesses the understanding of blockchain applications within financial services for professionals such as fintech developers and covers how blockchain is reshaping areas like payments, remittances, and trading by providing secure, transparent, and efficient alternatives to conventional methods.
Topic 5	Insurance Applications: This section evaluates the expertise of insurance professionals, such as underwriters and claims managers in utilizing blockchain technology within the insurance industry.
Topic 6	Ethereum: This part of the exam evaluates the expertise of blockchain developers and IT professionals in Ethereum, the leading platform for decentralized applications (dApps).

EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q17-Q22):

NEW QUESTION # 17
_______implements the interledger protocol, which facilitates interoperability across different distributed and non-distributed ledger networks.

A. Quit
B. Cello
C. Caliper
D. Composer

Answer: A

Explanation:
The answer is(C) Quilt.
Hyperledger Quilt is a Java implementation of the Interledger Protocol (ILP). ILP is designed to transfer value across different ledgers, whether they are distributed ledgers (like blockchains) or traditional non-distributed ledgers.
Here's why the other options aren't the best fit:
* Composer:Hyperledger Composer was a tool for building blockchain applications, but it has been deprecated.
* Cello:Hyperledger Cello aims to provide a modular blockchain platform, making it easier to deploy and manage blockchain networks.
* Caliper:Hyperledger Caliper is a benchmarking tool used to measure the performance of different blockchain implementations.
Quilt's primary function is to enable interoperability between different ledger systems, which is crucial for the broader adoption and integration of blockchain technology.

NEW QUESTION # 18
The right to publish a new block is determined by ________

A. Nodes proof of work
B. Nod's current investment in the blockchain
C. Transaction history
D. Position in the blockchain

Answer: A

Explanation:
The right to publish a new block is commonly determined byProof of Work (PoW)in blockchain networks like Bitcoin. In PoW, network nodes, known as miners, compete to solve a cryptographic puzzle. The first node to successfully solve it gains the right to add a new block to the blockchain.
Key Details:
* Proof of Work Mechanism: Miners perform computational work to solve a hash puzzle, which proves that they have expended effort. This process ensures that blocks are added in a way that is resistant to tampering and fraud.
* Reward System: The miner who successfully publishes a new block receives a block reward (in Bitcoin, for example), incentivizing miners to participate in maintaining the blockchain network's security.
* Alternative Mechanisms: Other consensus mechanisms, such as Proof of Stake (PoS), do not rely on computational work but rather on a node's stake or investment in the blockchain. However, in the context of traditional blockchain models like Bitcoin, PoW is the primary method for determining block publication rights.
Therefore,A. Nodes proof of workis the correct answer, as PoW is the standard method by which nodes earn the right to publish new blocks in many blockchain networks.

NEW QUESTION # 19
________are computer programs which facilitate transaction automation and eliminates the need for intermediaries

A. Blockchains
B. Smart contracts
C. Ledgers
D. Distributed Ledgers

Answer: B

Explanation:
Smart Contractsare self-executing programs that automate transactions and eliminate the need for intermediaries. They operate on blockchain networks and are coded to execute specific actions when predetermined conditions are met.
Key Details:
* Transaction Automation: Smart contracts automatically execute the terms of a contract once the agreed-upon conditions are fulfilled. This reduces manual processing and ensures transparency and trust between parties.
* Elimination of Intermediaries: By running on a decentralized network, smart contracts eliminate the need for third-party intermediaries, such as lawyers or notaries, reducing transaction costs and increasing efficiency.
* Application Across Industries: Smart contracts are used in various sectors, from finance and supply chain to insurance and real estate, due to their ability to enforce terms without human intervention.
Therefore,D. Smart contractsis the correct answer, as they facilitate automated transactions and remove the need for intermediaries.

NEW QUESTION # 20
__________ is the process of converting rights to an asset into a digital representation on a blockchain.

A. Cryptomining
B. Proof of Stake
C. Proof of Work
D. Tekenization

Answer: D

Explanation:
Tokenizationis the process of converting rights to an asset into a digital representation on a blockchain. This process allows assets like real estate, art, or securities to be represented as digital tokens that can be traded or transferred on a blockchain.
Key Details:
* Digital Representation of Assets: Tokenization involves creating digital tokens on a blockchain that represent ownership or rights to a real-world asset. These tokens can be transferred and traded much like traditional assets.
* Advantages of Tokenization: By enabling fractional ownership, tokenization lowers barriers to investment and improves liquidity. It also provides transparency and traceability in asset transactions.
* Use Cases: Tokenization is widely used in real estate, art, and securities, as it facilitates easy transfer, enhances liquidity, and enables global access to traditionally illiquid assets.
Thus,D. Tokenizationis the correct answer, as it describes the process of converting asset rights into a digital form on a blockchain.

NEW QUESTION # 21
How many bitcoin are available?

A. 1 million
B. It increases each year
C. 21 million
D. It fluctuates with demand

Answer: C

Explanation:
Bitcoin has a fixed supply limit of21 millioncoins, as defined by its protocol. This cap is coded into Bitcoin's original protocol and cannot be altered without a consensus change, ensuring its scarcity and value proposition as a "digital gold." Key Details:
* Fixed Supply: Bitcoin's supply limit is integral to its design, as it imposes a hard cap on the total number of coins that can ever be mined. This limited supply is one of the factors that gives Bitcoin its deflationary nature and potential as a store of value.
* Mining Schedule: New Bitcoins are released into circulation through mining rewards, which halve approximately every four years (in an event known as the "halving"). This gradually reduces the issuance rate until the maximum supply is reached around the year 2140.
* Difference from Other Cryptocurrencies: Unlike some cryptocurrencies that have flexible or inflationary supply models, Bitcoin's finite supply is a distinguishing feature that appeals to those concerned with long-term value preservation.
Therefore,D. 21 millionis the correct answer, as it accurately reflects the total number of Bitcoin that will ever exist.

NEW QUESTION # 22
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Highly-Praised 312-82 Qualification Test Helps You Pass the EC-Council Blockchain Fintech CertificationB|FC exam Exam - ITCertMagic

Study Materials 312-82 Review & 312-82 Valid Test Cost

EC-COUNCIL 312-82 Exam Syllabus Topics:

EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q17-Q22):

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