Lesson 5: Characteristics

Question 1

Four characteristics of Bitcoin blockchain?

Answer 1

Censorship resistance, borderless, neutral, open

Question 2

What is litecoin?

Answer 2

It is a Bitcoin clone.

Question 3

How is Litecoin different from Bitcoin?

Answer 3

Faster transactions and lower fees. 84M vs 21M coins.

Question 4

What are some Ethereum characteristics?

Answer 4

1st blockchain with programming language built from the ground up. Smart contract functionality. Robust developer community. Dapps, or decentralized apps running on top. Started DeFi movement. Users can create their own tokens.

Question 5

What are some DASH (digital cash) characteristics?

Answer 5

One second transactions costing less than one cent. PrivateSend: transaction anonymity. They put ~10% of block rewards towards a treasury fund.

Question 6

What are some characteristics of TrueUSD?

Answer 6

It’s a stable coin, ie, pegged to the dollar. Uses TrustCoin protocol. Can redeem US dollars.

Question 7

What are some characteristics of IOTA?

Answer 7

Mesh network based on a Directed Acyclic Graph (DAG). No blockchain or blocks. Made to power IoT. Feeless microtransactions. Pay-it-forward validation. Highly scalable and secure.

Question 8

What are some permissioned and consortium blockchains?

Answer 8

HyperLedger (Linux Foundation led targeting supply chain), Quorum (Ethereum-based for financial industry), Corda (open source multi-industry collab for finance, insurance, health care, trade finance), RiskStream (insurance industry consortium blockchain led by The Institutes)