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

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

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 the account reserve?

A) A deposit of XRP that is required to open an account

B) The minimum amount of XRP that can be sent in a transaction

C) A backup wallet in case your primary wallet is lost or stolen

Which of the following statements best summarizes how we use trust lines?

When sending currency, a trust line must be created from the receiving/destination account to the sending/issuer account.

When sending currency, a trust line must be created from the sending/issuer account to the receiving/destination account.

After initiating a transaction with currency between two accounts, both accounts must approve a mutual trust line for the currency transaction to go through.

All of the above.

What is a public blockchain?

A) A permissioned network where only certain users can access and participate

B) A permissionless network where anyone can access and participate

C) A type of cryptocurrency exchange

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

Why is a trust line necessary for transactions with tokens and currency?

By establishing trust lines with different assets, users can participate in trustless trading and make atomic swaps between assets directly on the XRPL without relying on a centralized intermediary.

Without trust lines, accounts could be subject to receiving assets or tokens that they do not want to receive.

We use trust line as a means of consenting to receive currency or a token.

All of the above

How are cryptocurrency transactions secured?

A) Cryptography

B) A central authority verifies them

C) Strong passwords

What is a node?

A) A computer that verifies blockchain transactions

B) A central authority that controls the network

C) A type of cryptocurrency

What line of code correctly instantiates a client on the XRPL?

const client = new xrpl.Client(net);

let net = getNet();

await client.connect();

results = "Connecting to " + net + "....";

Why is trading on the XRPL a little different than on other blockchains?

The XRPL offers a built-in software wallet where users can safely store their currency.

The XRPL uses a Central Limit Order Book instead of an AMM.

The XRPL uses an AMM instead of a Central Limit Order Book.

The XRPL uses both a Central Limit Order Book and an AMM.

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

A) Security token

B) Stablecoin

C) NFT

D) Bitcoin

A TransferFee of 5000 denotes what fee?

50%

5%

0.5%

500%

What is one benefit of transaction transparency in DeFi systems?

It increases the potential for fraudulent activities.

It allows for hidden fees in transactions.

It makes transactions resistant to censorship and reduces fraud potential.

It limits access to transaction information.

To transfer an NFT between two accounts, you must:

Use buy offers or sell offers.

Use buy offers only.

Use sell offers only.

Burn your NFT.

What makes the XRPL sustainable?

A) A tree is planted with every XRP transaction

B) Consensus requires little energy, and any energy is offset by carbon credits

C) The servers that power the XRPL use renewable energy powered by wind turbines

D) All of the above

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

What is a private key?

A) A unique alphanumeric code that acts as your public address on the blockchain

B) A digital storage device for your private and public keys

C) A hashed version of the public key

D) A unique code that allows you to access your wallet