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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

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

How are cryptocurrency transactions secured?

A) Cryptography

B) A central authority verifies them

C) Strong passwords

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

What is a cryptocurrency wallet?

A) A physical wallet that stores your cash and cards

B) A digital storage device for your private key

C) Where your cryptocurrency is stored

Where do cryptocurrencies live?

A) In a physical wallet

B) In a software wallet

C) On the blockchain

What's one key reason why the XRPL uses a unique consensus algorithm?

A) It's easier to reverse transactions

B) It's more energy-efficient

C) Miners don't need to be paid as much

What is a private key?

A) A unique alphanumeric code that acts as your public address on the blockchain

B) A digital storage device for your private and public keys

C) A hashed version of the public key

D) A unique code that allows you to access your wallet

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

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

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