CHEAP EC-COUNCIL 312-82 DUMPS - EXAM 312-82 EXERCISE

Cheap EC-COUNCIL 312-82 Dumps - Exam 312-82 Exercise

Cheap EC-COUNCIL 312-82 Dumps - Exam 312-82 Exercise

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EC-COUNCIL 312-82 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Bitcoin: This module zeroes in on Bitcoin, the first and most prominent copyright. It tests the understanding of blockchain developers about how Bitcoin works, its impact on the financial landscape, and the challenges and opportunities related to its adoption as a digital currency.
Topic 2
  • Blockchain’s copyright Assets: This segment tests the proficiency of professionals like copyright traders in the area of copyright assets. It examines the role of blockchain in creating and managing digital currencies like Bitcoin and Ethereum, as well as its broader impact on the financial world.
Topic 3
  • Decentralized Applications (copyright): This final section examines the skills of software developers in creating decentralized applications (copyright). It discusses the design, development, and deployment of copyright and their potential to revolutionize traditional business models by offering more secure, transparent, and efficient solutions.
Topic 4
  • Open Source: This module assesses the understanding of software developers and IT professionals concerning open-source blockchain frameworks. It explores the advantages of open-source development in blockchain, such as fostering innovation, transparency, and collaboration, as well as how professionals can contribute to or adopt these open-source solutions.
Topic 5
  • Security in Blockchains: This part assesses the knowledge of cybersecurity experts, IT auditors, and compliance professionals in securing blockchain systems.
Topic 6
  • Insurance Applications: This section evaluates the expertise of insurance professionals, such as underwriters and claims managers in utilizing blockchain technology within the insurance industry.
Topic 7
  • Financial Applications: This section assesses the understanding of blockchain applications within financial services for professionals such as fintech developers and covers how blockchain is reshaping areas like payments, remittances, and trading by providing secure, transparent, and efficient alternatives to conventional methods.
Topic 8
  • Ethereum: This part of the exam evaluates the expertise of blockchain developers and IT professionals in Ethereum, the leading platform for decentralized applications (copyright).

EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q24-Q29):

NEW QUESTION # 24
These wallets contain randomly generated private keys and are also called just a bunch of key wallets.

  • A. Brain Wallets
  • B. Non-Deterministic Wallets
  • C. Deterministic Wallets
  • D. Hierarchical Deterministic Wallets

Answer: B

Explanation:
Non-Deterministic Wallets, also known as"Just a Bunch of Keys" (JBOK)wallets, contain randomly generated private keys that are not derived from a single seed. In this type of wallet, each key is created independently and must be backed up individually, as there is no way to recover keys through a mnemonic seed phrase.
Key Details:
* Random Key Generation: Non-Deterministic wallets generate private keys independently, without a hierarchical or sequential structure. As a result, each key is standalone, and losing a key means losing access to the corresponding funds permanently.
* Backup Requirements: Since each key is unique and unrelated, Non-Deterministic wallets require separate backups for each key. This differs from Hierarchical Deterministic wallets, which can be restored using a single seed phrase.
* Use Case: These wallets were more common in the early days of copyright, but they are less favored today due to the convenience and recoverability provided by deterministic wallets.
In conclusion,C. Non-Deterministic Walletsis the correct answer, as it refers to wallets that contain randomly generated private keys and are known as JBOK wallets.


NEW QUESTION # 25
FinCEN requires any person engaging in the business of money transmission or the transfer of funds, including CVC, to (I) maintain an ''effective'' written anti-money laundering program reasonably designed to prevent the business from being employed to help the financing of terrorist activities and money laundering and________.

  • A. Submit reports to the SEC
  • B. Maintain detailed records of all customers
  • C. Report suspidous transactions
  • D. Registry as a money service business

Answer: C

Explanation:
FinCENrequires money transmitters and companies involved in virtual currency (CVC) transmission to report suspicious transactions as part of their anti-money laundering (AML) responsibilities. This is in addition to maintaining an effective AML program and registering as a money service business (MSB).
Key Details:
* AML Program: The program must be reasonably designed to detect and prevent the use of financial services for money laundering or terrorist financing.
* Reporting Suspicious Activity: FinCEN mandates that companies must file Suspicious Activity Reports (SARs) for any transactions that appear to be potentially suspicious or indicative of illegal activities.
* Regulatory Compliance: This requirement ensures that businesses adhere to federal regulations, contributing to a secure financial system by monitoring and reporting illicit activity.
Therefore,A. Report suspicious transactionsis the correct answer, as this is a key requirement for companies under FinCEN's regulations regarding money transmission and virtual currencies.


NEW QUESTION # 26
Distributed ledger technology or DLT is a word used to describe technologies which store, distribute and facilitate the exchange of value between users, either privately or publicly.

  • A. Distributed Ledger Technology
  • B. Consensus Mechanisms
  • C. Blockchain
  • D. copyright

Answer: A

Explanation:
Distributed Ledger Technology (DLT)is the correct term used to describe technologies that store, distribute, and facilitate the exchange of value between users, either privately or publicly. DLT encompasses various types of systems, including blockchains, that operate in a decentralized manner to record and synchronize data across multiple locations.
Key Details:
* Definition of DLT: DLT is a digital ledger system that allows data to be stored across multiple nodes in a network. It ensures that all copies of the ledger are updated and synchronized, providing a secure and transparent way to record transactions without needing a centralized authority.
* DLT vs. Blockchain: While blockchain is a form of DLT, not all DLTs are blockchains. For example, Directed Acyclic Graphs (DAGs) and Hashgraphs are also types of DLTs but do not necessarily use blocks or chains to organize data.
* Private and Public Implementations: DLTs can be permissioned (private) or permissionless (public), enabling various use cases from enterprise solutions to decentralized public networks.
Therefore,B. Distributed Ledger Technologyis the correct answer, as it broadly defines the technology for storing and distributing data across decentralized networks.


NEW QUESTION # 27
According to FinCEN what dictates the obligations of money transmitters?

  • A. The business model
  • B. The company stated mission
  • C. The industry designation
  • D. How the company advertises itself

Answer: A

Explanation:
According to theFinancial Crimes Enforcement Network (FinCEN), the obligations of money transmitters are determined primarily bythe business modelof the company. FinCEN regulations stipulate that companies engaged in money transmission services must comply with Anti-Money Laundering (AML) and Counter- Terrorism Financing (CTF) regulations, based on how they conduct their business rather than on their industry designation or self-description.
Key Details:
* Regulatory Basis: FinCEN's guidelines are focused on the activities of the business-specifically, whether it facilitates the transfer of money or currency on behalf of others. This regulatory approach ensures that companies involved in money transmission are subject to appropriate oversight, regardless of their industry.
* Activities Over Labels: Even if a company does not advertise itself as a money transmitter, it may still be subject to FinCEN regulations if its business operations fit the criteria for money transmission services.
* Compliance Requirements: Money transmitters must register with FinCEN and implement AML/CTF measures to prevent illicit activities, aligning their compliance obligations with the nature of their operations.
Thus,C. The business modelis the correct answer, as FinCEN focuses on the activities a company performs when determining regulatory obligations.


NEW QUESTION # 28
_______implements the interledger protocol, which facilitates interoperability across different distributed and non-distributed ledger networks.

  • A. Cello
  • B. Composer
  • C. Quit
  • D. Caliper

Answer: C

Explanation:
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.


NEW QUESTION # 29
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