Comprehensive Quiz

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

What does a block in the blockchain contain?

A) Cryptographic hash

B) Transaction information

C) Timestamp

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 is the NFTokenTaxon ID used for?

To create a unique ID for each NFT so that it can be found on the blockchain.

To link or associate all NFTs that belong in a single collection.

To set a transaction price in case an NFT is sold after being minted.

All of the above

A TransferFee of 5000 denotes what fee?

50%

5%

0.5%

500%

What information does a broker need to have in order to facilitate a transaction?

A sell offer index

A buy offer index

An NFToken ID

All of the above

A TransferFee of 5000 denotes what fee?

50%

5%

0.5%

500%

When transferring an NFT you own, which of the following helps someone else find and accept the transfer.

The NFTokenTaxon.

The OfferID.

The NFTokenOffer Index.

The WalletID.

The URI of an NFToken is meant to store what information?

The website address of the creator of the token.

Any metadata associated with the token.

The address of the marketplace listing the token.

The IP address of the computer where the NFT was minted.

What does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

What is the XRPL’s consensus algorithm?

A) Proof-of-work (PoW)

B) Delegated proof-of-stake (DPoS)

C) XRPL Consensus Mechanism

D) XRP Validator

Which of the following best describes a sidechain?

A) A sidechain is a separate network that runs in parallel to the main network

B) A sidechain is a type of blockchain that is used to process transactions that are not related to the main blockchain

C) A sidechain is a centralized network that is used to process transactions

D) A sidechain is a fork of the main blockchain

How does autobridging work?

A) It uses a series of assets or hops to find the best connecting liquidities for the original trading pairs

B) It allows users to trade their assets without having to send them to a centralized exchange

C) It uses XRP as an intermediary asset to find the lowest transaction cost

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

Which of these platforms don’t offer a built in order book?

Bitcoin

Ripplecoin

Ethereum

Dogecoin

All of the above

What should you consider when choosing a consensus mechanism for an EVM sidechain?

Choose the mechanism with the highest fees, making the barrier to entry higher.

Choose a mechanism that offers limited scalability.

Educate yourself on the mechanisms' strengths and weaknesses in terms of security and other factors.

Choose a Proof of Stake (PoS) mechanism for maximum decentralization.

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

What is the order book?

A) A list of all current bids and asks for each asset

B) A recommendation of which assets to trade

C) A complete timeline of an asset's price history

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)

Why doesn't the XRPL use Proof of Work (PoW)?

A) PoW is too energy-intensive

B) PoW is unbalanced

C) PoW isn't secure enough