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!

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

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

What is a liquidity provider (LP)?

A) An individual who commits to trade at least once per day

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

C) Someone who supplies liquidity to a decentralized exchange (DEX)

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

What is Forte?

A) A blockchain platform that provides funding and infrastructure for game developers

B) An in-game currency for the Fortnite game

C) A digital wallet

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 does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

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 does "minting an NFT" mean?

A) Creating a physical copy of an NFT

B) Creating an NFT and publishing it to the blockchain

C) Giving an NFT to someone as a gift

D) Selling an NFT on a marketplace

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

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