About
Courses
Study Center
Blog
Docs

English

XRPL.org

Back to Quizzes

Join the Channel discord

About
Courses
Study Center
Blog
Docs

English

XRPL.org

Blockchain and Crypto Basics Review Quiz

Found in: What is a blockchain?

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

What is decentralized finance?

A) An umbrella term for various protocols and financial instruments that are built on distributed ledger technology (DLT), such as blockchain

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

C) A way of investing that involves taking on more risk in order to potentially earn higher returns

Where do cryptocurrencies live?

A) In a physical wallet

B) In a software wallet

C) On the blockchain

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

What is one potential use case for NFTs?

A) Proving ownership of an asset

B) Identity verification

C) Storing academic credentials

D) All of the above

What is the name for converting a physical asset into a digital token?

A) Tokenization

B) Fungibility

C) Blockchain

D) Cryptocurrency

Where is your cryptocurrency stored?

A) In a cryptocurrency wallet

B) On the blockchain

C) In a physical wallet

What makes an asset non-fungible?

A) It is digital

B) It is unique

C) It is stored on a blockchain

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 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 does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

Name

Time is Up!

Time's up

Join Discord Channel discord

XRPL LEARNING PORTAL

About
Courses
Study Center
Blog
Get Involved

XRPL STUDY CENTER

Glossary
Quizzes
Code Sandboxes
FAQ’s

XRPL.ORG

XRP Ledger Documentation
XRPL.org