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Blockchain and Crypto Basics Review Quiz

Answer randomized questions from the entire course and test your knowledge on the basics of cryptocurrency, blockchains and web3 technology. Good luck!

Where are in-game assets stored?

A) In the game itself

B) On the blockchain as non-fungible tokens

C) In a digital wallet

What is Forte?

A) A blockchain platform that provides funding and infrastructure for game developers

B) An in-game currency for the Fortnite game

C) A digital wallet

What advantage does web 3.0 offer to the gaming industry?

A) Reduced lagging

B) In-game assets with real-world value

C) Improved graphics

What is a liquidity provider (LP)?

A) An individual who commits to trade at least once per day

B) A type of financial institution that is not subject to government regulation

C) Someone who supplies liquidity to a decentralized exchange (DEX)

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

How does a transaction on a blockchain happen?

A) When the network reaches a consensus

B) When it has finished downloading the blockchain

C) When the block is full

D) When a single validator node approves it

How are cryptocurrency transactions secured?

A) Cryptography

B) A central authority verifies them

C) Strong passwords

Why doesn't XRPL use PoW?

A) PoW uses a lot of energy

B) PoW is too slow

C) PoW isn't decentralized

D) Both A and B

E) All of the above

What is the name of a digital asset that can represent a share of a company?

A) Security token

B) Stablecoin

C) NFT

D) Bitcoin

What is proof-of-work?

A) A type of consensus mechanism in which miners compete to solve complex mathematical problems

B) A type of consensus mechanism in which nodes stake the network currency to validate transactions

C) A method of reaching consensus via a peer-to-peer network of nodes

D) None of the above

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