Binance Academy is excited to announce a new education initiative: Academy Courses, where users can gain further knowledge of the crypto and blockchain industry by completing courses and quizzes.

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Requirements for Participation in Binance Academy Courses:

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Course 1: Blockchain Fundamentals

Module 1. Introduction to blockchain technology

How does a block connect to another?

a) Through the use of hash functions

Module 2. Brief history of blockchain technology

Which of the following statements is/are correct? Choose all that apply.

a) The idea behind blockchain technology was described as early as the 1990s
b) In January 2009, Bitcoin came to existence when the first Bitcoin block was mined
c) Satoshi Nakamoto received a reward of 50 bitcoins when the first Bitcoin block was mined
d) Vitalik Buterin started the development of a new blockchain-based distributed computing platform called Ethereum

Module 3. How does blockchain work

Blockchain technology can be used by a network of strangers who don’t trust each other by relying on a mix of:

b) Game theory and cryptography

Module 4. Blockchain consensus mechanisms: PoW and PoS

What are the differences between Proof of Work and Proof of Stake consensus mechanisms? Choose all that apply.

b) Proof of Work requires expensive equipment and high energy costs; while Proof of Stake doesn’t
c) Proof of Stake selects validators pseudo-randomly, while nodes compete to solve a block in Proof of Work
d) Proof of Stake requires validators to hold and stake the native cryptocurrency, while Proof of Work doesn’t

Module 5. Blockchain network structure: nodes and forks

What is a soft fork? Choose all that are correct.

b) Soft forks are upgrades to the network that are backward-compatible
d) Soft forks are considered “opt-in”

Module 6. Blockchain use cases and limitations

Which of the following statements is/are correct? Choose all that apply.

a) Sending money via blockchain can be fast, and incur low fees
b) DeFi aims to create a more open, inclusive, decentralized and transparent financial system
c) Blockchain can make supply chain interactions between businesses smoother and more efficient

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