Comprehensive Quiz

Which of the following best describes XRPL's check feature?

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

B) It allows for multiple people to jointly control an account

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

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

The URI of an NFToken is meant to store what information?

The website address of the creator of the token.

Any metadata associated with the token.

The address of the marketplace listing the token.

The IP address of the computer where the NFT was minted.

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 a smart contract?

A) A digital contract that executes automatically when certain conditions are met

B) A physical contract that is signed by more than two parties

C) A digital contract that is signed by more than two parties

What makes the XRPL sustainable?

A) A tree is planted with every XRP transaction

B) Consensus requires little energy, and any energy is offset by carbon credits

C) The servers that power the XRPL use renewable energy powered by wind turbines

D) All of the above

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

Where do AMMs store currency?

In a hedge fund.

In a decentralized exchange.

In a community moderated account.

In a liquidity pool.

To transfer an NFT between two accounts, you must:

Use buy offers or sell offers.

Use buy offers only.

Use sell offers only.

Burn your NFT.

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 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 name for converting a physical asset into a digital token?

A) Tokenization

B) Fungibility

C) Blockchain

D) Cryptocurrency

Why was web 1.0 known as the 'read-only' era?

A) It was difficult to contribute content to the web

B) There were no computers

C) Google required a paid subscription to use

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

What is the primary purpose of private keys in the digital world of DeFi?

They are used for sharing assets with others securely.

They act as government-issued identification.

They are crucial for proving your identity and safeguarding your digital assets.

They provide access to DeFi platforms' security features.

What is a node?

A) A computer that verifies blockchain transactions

B) A central authority that controls the network

C) A type of cryptocurrency

What is tokenization?

A) The process of turning an asset into a digital token

B) The process of burning an NFT

C) The act of buying or selling an NFT

What is an Order Book?

A queue of trades that are being processed.

A log of all the trades that happen on an exchange.

A list of traders who want to buy a specific token.

A list of offers from traders to buy or sell tokens for a specific exchange rate.

What does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

What is the native currency of the XRPL?

A) XRPL

B) XRP

C) BTC