IAE 2 - 19AD624 - BLOCKCHAIN AND ITS APPLICATIONS
 
Topics covered: Unit - 2
●  Elements of a Blockchain
●  Blockchain Consensus I – Permissionless Models
●  Blockchain Consensus II – Permissioned Models
●  Smart Contract Hands On I – Ethereum Smart Contracts (Permissionless Model)
2 MARKS

Level 1 - Remember:

1. What is decentralization in a blockchain?
2. What is the main difference between permissionless and permissioned blockchain models?
3. What are smart contracts?
4. Which blockchain platform is commonly associated with permissionless smart contracts?
5. What is the purpose of consensus mechanisms in blockchain?
Level 2 - Understanding:

6. Can you give an example of a permissionless consensus mechanism?
7. What does it mean for a blockchain to be permissioned?
8. Which type of blockchain model offers more scalability: permissionless or permissioned?
9. Define Merkel tree
10. Name a permissioned blockchain platform.
13 MARKS

Level 3 - Apply:

1. What is double spending and how can it be prevented?
2. Explain about Byzantine Fault Tolerance (BFT) with an example.
 

 

Level 2 - Understand:

1. Analyze the impact of implementing Ethereum smart contracts in a supply chain management system.
2. What are the advantages of using permissioned blockchain models in industries like finance?
14 MARKS

Level 4 - Analyze:

1. Assess the potential risks and challenges associated with implementing a permissionless consensus mechanism like Proof of Work (PoW).
2. Evaluate the impact of using smart contracts in reducing transaction costs and improving efficiency in a specific industry.
 