Virtual Labs

a: A self-executing contract with the terms of the agreement directly written into code. b: A physical document signed by parties involved in a blockchain transaction. c: A traditional legal contract stored on a blockchain. d: A type of cryptocurrency used for executing transactions on a blockchain.

How can smart contracts benefit supply chain management?

a: By increasing transparency and traceability in the supply chain. b: By eliminating the need for any human intervention in supply chain processes. c: By reducing the overall complexity of supply chain systems. d: By providing a secure way to store physical goods in the supply chain.

Which blockchain platform is known for supporting smart contracts?

a: Ethereum b: Bitcoin c: Ripple d: Litecoin

What role does gas play in Ethereum smart contracts?

a: It measures the computational effort required to execute smart contracts. b: It represents the amount of fuel needed to mine Ethereum. c: It refers to the energy consumption of blockchain nodes. d: It determines the maximum number of smart contracts a user can create.

What happens when a smart contract execution runs out of gas?

a: The transaction fails and any changes are reverted. b: The contract continues executing with a delay. c: The contract automatically requests additional gas. d: The transaction is completed, but with partial execution.

Why are smart contracts considered secure?

a: They are immutable once deployed on the blockchain. b: They are written in a special programming language that prevents hacking. c: They can be modified at any time to fix vulnerabilities. d: They require a password to execute.

Community Links Sakshat Portal Outreach Portal FAQ: Virtual Labs

AGPL 3.0 & Creative Commons (CC BY-NC-SA 4.0)