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 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

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

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 proof-of-stake?

A) A type of consensus mechanism in which miners compete to solve a 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

Where do cryptocurrencies live?

A) In a physical wallet

B) In a software wallet

C) On the blockchain

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

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

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 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

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