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!

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

How is blockchain changing the gaming industry?

A) Blockchain is making it easier for small developers to compete with the big names in the industry

B) Blockchain is making it possible for players to own and trade in-game assets

C) Blockchain allows anyone to earn an income from playing games

D) All of the above

What was one of the first big NFT crazes?

A) CryptoKitties

B) Decentraland

C) Ethereum

D) Bitcoin

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

What is proof-of-stake?

A) A type of consensus mechanism in which miners compete to solve a 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

What are some of the advantages of decentralized finance?

A) Improved security and resilience due to decentralized infrastructure

B) Removes fees from banks and other financial institutions

C) Greater access to financial services for unbanked individuals

D) A and B

E) All of the above

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

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

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

Where are in-game assets stored?

A) In the game itself

B) On the blockchain as non-fungible tokens

C) In a digital wallet

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