Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam. Tackle multiple-choice questions, accompanied by hints and explanations, to master the principles of Bitcoin and blockchain technology. Enhance your readiness and confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What was one of the key innovations introduced in the Bitcoin white paper?

Proof of Stake
Simplified Payment Verification
Smart Contracts
Decentralized Governance

The correct answer is: Simplified Payment Verification

The introduction of Simplified Payment Verification (SPV) in the Bitcoin white paper is significant because it allows lightweight clients to verify transactions without needing to download the full blockchain. This innovation enables users with limited resources, such as mobile devices or computers with less storage, to still utilize the Bitcoin network securely. By leveraging Merkle trees, SPV allows these clients to obtain proof of transactions' inclusion in a block without requiring access to the entire blockchain, which enhances accessibility and usability of Bitcoin. This feature is particularly crucial for the growth of the Bitcoin ecosystem, as it facilitates wider adoption, enabling more people to engage with Bitcoin transactions without needing extensive technical knowledge or significant computing power. In contrast, the other concepts mentioned—Proof of Stake, Smart Contracts, and Decentralized Governance—were not part of Bitcoin's original protocol as outlined in Satoshi Nakamoto's white paper but emerged in later discussions and developments in the broader cryptocurrency space.