So, what is blockchain? Blockchain is an immutable database that stores data in digitally linked nodes via a network of computers, responsible for recording new transactions and agreeing to a consensus for updates.
This peer-to-peer (P2P) technology manages decentralized data instead of a central computer. It's a type of distributed ledger technology (DLT), but not all distributed ledger technologies use blockchain. For example, the decentralized finance aspect of cryptocurrency and nonfungible tokens come to mind when consumers think of blockchain. But the technology can support cybersecurity, supply chain management, manufacturing and other business functions.
This quiz asks broad questions about what blockchain is and what it can do. Test yourself on the differences between a smart contract and a smart legal contract and find out what altering records on the blockchain does to previously recorded data. IT leaders should consider the pros and cons of blockchain implementation, and this blockchain quiz touches on those advantages and disadvantages. If you feel confident about enterprise blockchain, assess your knowledge of fundamental concepts that define blockchain and examples of enterprise use cases. When you complete the quiz, you can review each answer and an explanation of the topic with links to more resources.