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Intro to the XRPL Review Quiz

Found in: How the XRP Ledger came to be

With randomized questions from each lesson, test your knowledge on the XRP Ledger, its history, how it works, its key features, and more.

What is a public address?

A) A private key that is used to sign transactions

B) The amount of XRP required to open an account

C) A cryptographic code that is used to locate an account on the blockchain

What is the order book?

A) A list of all current bids and asks for each asset

B) A recommendation of which assets to trade

C) A complete timeline of an asset's price history

What is the purpose of a destination tag?

A) To use a single account to manage payments for a variety of users

B) To gain access to the XRPL DEX

C) To keep track of all the different types of assets an account holder has

How does pathfinding work?

A) It uses XRP as an intermediary asset to find the lowest transaction cost

B) It uses a series of assets or hops to find the best connecting liquidities for the original trading pairs

C) It allows users to trade their assets without having to send them to a centralized exchange

Do you need smart contracts to create digital assets on the XRPL?

A) Yes

B) No

What is the set of chosen validators known as?

A) The Validator List

B) The UNL (Unique Node List)

C) The Consensus Group

D) The Delegate Group

What is the purpose of hooks?

A) To provide smart contract functionality

B) To reduce fees

C) To increase the speed of transactions

D) To improve security

What is the main advantage of using a payment channel?

A) You can make multiple payments without having to repeatedly send transactions to the network

B) It is a secure way to hold funds until certain conditions are met.

C) It allows for multiple people to jointly control an account.

D) It authorizes an account to claim funds at a later date.

What is the native currency of the XRPL?

A) XRPL

B) XRP

C) BTC

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