New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which consensus mechanism is used by Bitcoin, the first

    blockchain-based cryptocurrency?
    A Proof of Work (PoW) Correct Answer Incorrect Answer
    B Proof of Stake (PoS) Correct Answer Incorrect Answer
    C Delegated Proof of Stake (DPoS) Correct Answer Incorrect Answer
    D Practical Byzantine Fault Tolerance (PBFT) Correct Answer Incorrect Answer
    E All of these Correct Answer Incorrect Answer

    Solution

    Bitcoin uses the Proof of Work (PoW) consensus mechanism, where miners solve complex mathematical puzzles to validate transactions and create new blocks. This mechanism ensures security and agreement among participants in a decentralized manner.

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