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 is your cryptocurrency stored?

A) In a cryptocurrency wallet

B) On the blockchain

C) In a physical wallet

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

A) Tokenization

B) Fungibility

C) Blockchain

D) Cryptocurrency

What is play-to-earn?

A) A model that financially rewards players for their skill and dedication

B) A model that requires players to pay to play

C) A high-speed blockchain for games to run on

What is the web 2.0 era also known as?

A) The social web era

B) The read-only era

C) The dot com bubble

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

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

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

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

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