312-82 Reliable Cram Materials | Valid Study 312-82 Questions
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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.
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Topic 2 |
- Introduction: This part of the exam gauges the basic knowledge of blockchain technology for professionals like financial analysts and covers key blockchain concepts such as distributed ledgers, consensus mechanisms, and smart contracts, forming the basis for more advanced topics covered later.
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Topic 3 |
- Open Source: This module assesses the understanding of software developers and IT professionals concerning open-source blockchain frameworks. It explores the advantages of open-source development in blockchain, such as fostering innovation, transparency, and collaboration, as well as how professionals can contribute to or adopt these open-source solutions.
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Topic 4 |
- Insurance Applications: This section evaluates the expertise of insurance professionals, such as underwriters and claims managers in utilizing blockchain technology within the insurance industry.
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Topic 5 |
- Security in Blockchains: This part assesses the knowledge of cybersecurity experts, IT auditors, and compliance professionals in securing blockchain systems.
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Topic 6 |
- 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.
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Topic 7 |
- Decentralized Applications (dApps): This final section examines the skills of software developers in creating decentralized applications (dApps). It discusses the design, development, and deployment of dApps and their potential to revolutionize traditional business models by offering more secure, transparent, and efficient solutions.
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EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q50-Q55):
NEW QUESTION # 50
Is a Microsoft blockchain development platform that allows the creation of custom private blockchains.
- A. Corda
- B. Fabric
- C. Azure
- D. Sratis
Answer: C
Explanation:
MicrosoftAzureis a blockchain development platform that enables the creation of custom private blockchains.
Azure Blockchain Service provides tools and services that allow organizations to set up and manage consortium blockchain networks, customize smart contracts, and create tailored blockchain applications.
Azure supports multiple blockchain frameworks, includingEthereumandHyperledger Fabric, making it versatile for both private and public network needs.
Key Details:
* Azure Blockchain Service: This service facilitates the deployment of managed blockchain networks on the cloud, leveraging Azure's infrastructure to deliver scalability, security, and reliability for private and consortium blockchain applications.
* Private Blockchain Capabilities: As a private blockchain service, Azure allows businesses to operate their blockchain in a controlled, permissioned environment. This offers greater control over data and participants, making it ideal for enterprise use cases like supply chain management, finance, and legal contracts.
* Blockchain Framework Compatibility: Although Azure supports a variety of blockchain protocols, it primarily focuses on private blockchain deployments, allowing for detailed control over network participants and data visibility.
In summary, Microsoft Azure stands out as a flexible and comprehensive platform for private blockchain development, catering to enterprises with tailored solutions and extensive cloud-based services.
NEW QUESTION # 51
What is a utility cryplet?
- A. A part of Microsoft Azure Bletchley that is used to provide basic services such as encryption and basic data fetching from external sources.
- B. A part of IBM Hyperledger Fabric that is created automatically when a smart contract is created on the chain and resides off the chain.
- C. A part of Microsoft Azure Bletchley that is created automatically when a smart contract is created on the chain and resides of the chain.
- D. A part of IBM Hyperledger Fabric Bletchley that is used to provide basic services such as encryption and basic data fetching from external sources.
Answer: A
Explanation:
Autility crypletis a component of Microsoft Azure Bletchley that provides essential services, such as encryption and data retrieval from external sources, to support blockchain applications. Bletchley is a Microsoft Azure project designed to enhance blockchain infrastructure by offering middleware services and tools for secure and efficient blockchain solutions.
Key Details:
* Purpose of Utility Cryplets: Utility cryplets extend the functionality of blockchain networks by offering off-chain services, which include cryptographic operations, data encryption, and fetching information from external APIs or data sources. This enhances the capabilities of smart contracts by allowing them to securely interact with off-chain data.
* Microsoft Azure Bletchley: As part of Microsoft's blockchain ecosystem, Bletchley provides an environment that supports building, deploying, and managing blockchain applications. Cryplets are designed to facilitate secure, reliable, and scalable integration between on-chain and off-chain processes.
* Use Cases: Utility cryplets are particularly useful in scenarios where blockchain applications need to access external data (like price feeds, identity verification, etc.) while ensuring data integrity and security.
Therefore,B. A part of Microsoft Azure Bletchley that is used to provide basic services such as encryption and basic data fetching from external sourcesis the correct answer, as it describes the function and purpose of utility cryplets within the Azure Bletchley project.
NEW QUESTION # 52
In this method users permanently destroy a certain quantity of bitcoin in proportion to the quantity of altcoin to be demand. What is this method?
- A. Proof of Burn
- B. Proof of ownership
- C. Side block
- D. Side-chaining
Answer: A
Explanation:
Proof of Burn (PoB)is a consensus mechanism where users permanently destroy (or "burn") a certain quantity of cryptocurrency, such as Bitcoin, to gain the right to mine or acquire an altcoin. This process proves commitment to the network and secures it by effectively sacrificing one asset to obtain another.
Key Details:
* Burning Process: In PoB, participants send a certain amount of cryptocurrency to an unspendable address, effectively removing it from circulation. This act serves as proof that they have invested in the network by reducing the supply of the original cryptocurrency.
* Purpose and Use Cases: PoB is used by networks that want to incentivize long-term commitment and reduce total supply. It is often seen in new blockchain projects that allow miners or users to trade value in established currencies like Bitcoin for the native token of the new network.
* Security: By requiring participants to destroy value, PoB helps prevent spam attacks and promotes network stability.
Therefore,B. Proof of Burnis the correct answer, as it describes the method where users destroy a certain amount of cryptocurrency to receive or mine another asset.
NEW QUESTION # 53
The Financial Action Task force defines virtual asset service providers as companies that (choose two):
- A. Sell products for virtualcurrency
- B. Exchange virtual assets for fiat currency
- C. Purchase virtual currency
- D. Transfer virtual assets
Answer: B,D
Explanation:
According to theFinancial Action Task Force (FATF),Virtual Asset Service Providers (VASPs)are entities or companies that facilitate activities related to virtual assets. Specifically, VASPs include businesses thatexchange virtual assets for fiat currencyandtransfer virtual assets. These activities are regulated to prevent money laundering, terrorist financing, and other illicit activities.
Key Details:
* Exchange of Virtual Assets for Fiat Currency: VASPs often act as intermediaries that enable the conversion between virtual assets (like cryptocurrencies) and traditional fiat currencies. This function is central to enabling liquidity and usability of cryptocurrencies within the traditional financial system.
* Transfer of Virtual Assets: VASPs may also provide services that involve the transfer of virtual assets from one user to another, which includes activities such as facilitating peer-to-peer transactions, wallet services, or custodial services.
* FATF Standards and Compliance: The FATF has established guidelines for VASPs to enhance transparency and ensure compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations.
Thus, the correct answers areC. Exchange virtual assets for fiat currencyandD. Transfer virtual assets, as these are the core activities defined for VASPs by the FATF.
NEW QUESTION # 54
What is the term for the smallest subunit in Ether.
- A. Gas
- B. Bitcoin
- C. Wie
- D. ETH
Answer: C
Explanation:
The smallest subunit of Ether is called aWei. Ether (ETH) is divided into several subunits for precision in transactions, with Wei being the smallest, equivalent to 10#1810