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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!

What could a smart contract be used for?

A) To automate the supply chain

B) To track the ownership of land

C) To settle insurance claims

D) All of the above

What is the name of a digital asset that can represent a share of a company?

A) Security token

B) Stablecoin

C) NFT

D) Bitcoin

What does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

How are cryptocurrency transactions secured?

A) Cryptography

B) A central authority verifies them

C) Strong passwords

How does blockchain help game creators?

A) It makes it easier to raise funds

B) It helps them build a strong community

C) It provides a more level playing field

D) All of the above

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

What is one advantage of using blockchain technology for payments?

A) Easiness to validate transactions

B) The ability to send and receive payments without a bank account

C) The faster and cheaper processing of transactions

D) All of the above

What is yield farming?

A) The act of making small purchases at different times of the day

B) The act of only buying the top-cryptocurrencies

C) The act of using DeFi protocols to earn interest on digital assets

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

How does a transaction on a blockchain happen?

A) When the network reaches a consensus

B) When it has finished downloading the blockchain

C) When the block is full

D) When a single validator node approves it

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