Comprehensive Quiz

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

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 are some of the key benefits of blockchain technology?

A) It's secure, trustless, and tamper-proof

B) It's controlled by a central authority and transactions can be reversed

C) It's private, permissioned, and efficient

What is a public address?

A) A private key that is used to sign transactions

B) The amount of XRP required to open an account

C) A cryptographic code that is used to locate an account on the blockchain

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

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 DEX?

A) A decentralized exchange that allows users to trade assets without having to send them to a centralized exchange

B) A cryptocurrency that is used as an intermediary asset to find the lowest transaction cost

C) An order book that lists all current bids and asks for each asset

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

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 is the purpose of a destination tag?

A) To use a single account to manage payments for a variety of users

B) To gain access to the XRPL DEX

C) To keep track of all the different types of assets an account holder has

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

What is a private key?

A) A public address that is used to receive funds

B) The amount of XRP required to open an account

C) A password that is used to sign transactions

Why is the XRPL good for DeFi?

The XRPL’s Proof-of-Work and Proof-of-Stake systems make it difficult to hack.

The XRPL always gets the best exchange rate for trades.

The XRPL can handle a large volume of transactions quickly and cheaply.

The XRPL’s trading algorithm always nets the highest gains per transaction.

What code correctly creates and funds an account on the testnet?

await client.fundWallet(null, {amount, faucetHost })).wallet;

await client.connect()

const client = new xrpl.Client(net)

const standby_wallet = xrpl.Wallet.fromSeed(lines[0])

To change the currency of a transaction in the example code sandbox, which file should be edited?

App.jsx

send-currency.jsx

wallet-info.jsx

source-wallet.jsx

What code checks the balance of an account?

client.getXrpBalance(my_wallet.address))

const standby_wallet = xrpl.Wallet.fromSeed(lines[0])

const sendAmount = standbyAmountField.value

const signed = standby_wallet.sign(prepared)

What makes an asset non-fungible?

A) It is digital

B) It is unique

C) It is stored on a blockchain

A TransferFee of 5000 denotes what fee?

50%

5%

0.5%

500%

How do AMMs work?

AMMs work by holding currency in order books, then the ledger randomizes a fair exchange rate between the different currencies.

AMMs work by pooling currency in liquidity pools, then algorithmically picking a fair exchange rate between the different currencies.

AMMs work by pooling currency in liquidity pools, then the AMM leadership group picks a fair exchange rate between the different currencies.

AMMs work by pooling currency in liquidity pools, then the AMM community votes on a fair exchange rate between the different currencies.

What is the main advantage of using a payment channel?

A) You can make multiple payments without having to repeatedly send transactions to the network

B) It is a secure way to hold funds until certain conditions are met.

C) It allows for multiple people to jointly control an account.

D) It authorizes an account to claim funds at a later date.