Eccouncil 312-82 Exam Questions

A Type II DApp is a decentralized application that uses both the blockchain and protocol of a Type I DApp. Type I DApps are the foundational blockchain-based platforms, such as Ethereum, that operate with their own blockchain. Type II DApps build on these platforms, using the existing blockchain and protocol, but offering specific functionalities or services.

Key Details:

Type I DApps: These are fundamental blockchain platforms, like Bitcoin or Ethereum, which have their own blockchain and provide a foundation for other applications.

Characteristics of Type II DApps: Type II DApps leverage the infrastructure of Type I DApps but add additional functionality through smart contracts or protocols. For example, protocols such as ERC-20 tokens or ERC-721 NFTs are built on Ethereum and utilize Ethereum's underlying blockchain and consensus protocol.

Integration: By utilizing both the blockchain and protocol of a Type I DApp, Type II DApps inherit the security, decentralization, and features of the underlying Type I platform, which simplifies their development and ensures compatibility.

In summary, B. Using the blockchain and protocol of a type I accurately describes the categorization of Type II DApps.

A Type II DApp is characterized by utilizing another blockchain, such as Ethereum, as its underlying platform. Type II DApps generally operate as protocols or platforms themselves and rely on a foundational blockchain (Type I) for their infrastructure. This categorization enables Type II DApps to leverage the security, decentralization, and functionality of the underlying blockchain while adding unique features or protocols.

Key Details:

Relationship with Type I DApps: Type I DApps are foundational platforms with their own blockchain, such as Ethereum. Type II DApps are built on these foundational platforms, creating additional protocols or applications that depend on the Type I blockchain.

Examples of Type II DApps: Protocols like the ERC-20 token standard on Ethereum are examples of Type II DApps, as they rely on Ethereum's blockchain but provide their own set of functionalities that can be used by other applications.

Benefits of Using Existing Blockchains: By using established blockchains, Type II DApps benefit from existing infrastructure and security while extending the blockchain's capabilities.

Therefore, C. Type II is the correct answer, as it represents DApps built on another blockchain like Ethereum.

According to IBM's ''Blockchain for Financial Services'', blockchain offers several benefits, including faster settlement and automated compliance. These features are critical in enhancing the efficiency and reliability of financial services.

Key Details:

Faster Settlement: Blockchain technology enables near-instantaneous settlement of transactions by eliminating the need for traditional intermediaries and reducing processing times, which can speed up transactions significantly compared to legacy systems.

Automated Compliance: Blockchain's transparency and immutability allow for the automatic recording and verification of regulatory requirements. Smart contracts can be used to enforce compliance rules in real-time, ensuring that transactions adhere to regulatory standards without manual intervention.

Impact on Financial Services: These benefits translate to reduced operational costs, improved transaction accuracy, and increased trust between parties, making blockchain an attractive solution for financial institutions.

Thus, A. Faster settlement and B. Automated compliance are the correct answers, as these are specific benefits of blockchain in financial services according to IBM.

The answer is (C) Quilt.

Hyperledger Quilt is a Java implementation of the Interledger Protocol (ILP). ILP is designed to transfer value across different ledgers, whether they are distributed ledgers (like blockchains) or traditional non-distributed ledgers.

Here's why the other options aren't the best fit:

Composer: Hyperledger Composer was a tool for building blockchain applications, but it has been deprecated.

Cello: Hyperledger Cello aims to provide a modular blockchain platform, making it easier to deploy and manage blockchain networks.

Caliper: Hyperledger Caliper is a benchmarking tool used to measure the performance of different blockchain implementations.

Quilt's primary function is to enable interoperability between different ledger systems, which is crucial for the broader adoption and integration of blockchain technology.

Solidity is the primary programming language used for developing smart contracts on the Ethereum blockchain. It is a statically typed, high-level language similar to JavaScript and C++, and it is specifically designed for creating contracts that run on the Ethereum Virtual Machine (EVM).

Key Details:

Purpose of Solidity: Solidity was created by the Ethereum team to enable the development of smart contracts that automate the execution of blockchain-based applications. Its syntax is designed to be familiar to developers experienced in other programming languages, which helps in onboarding and learning.

Compatibility and Flexibility: As a Turing-complete language, Solidity allows for the development of complex smart contracts and decentralized applications (DApps) with conditional logic, loops, and more. It is widely used in the DeFi space and beyond.

Ethereum Test Networks: Other options listed, such as Rinkeby and Kovan, refer to Ethereum test networks where developers test smart contracts, but they are not languages themselves. Mist is an Ethereum wallet interface, not a programming language.

Thus, C. Solidity is the correct answer, as it is the language specifically designed for working with Ethereum smart contracts.