Comprehensive Quiz - XRP Ledger

Who can see the XRPL code?

A) Anyone with an account on the XRPL

B) Only validator nodes

C) Anyone with an internet connection

What was one of the first big NFT crazes?

A) CryptoKitties

B) Decentraland

C) Ethereum

D) Bitcoin

What code checks the balance of an account?

A) client.getXrpBalance(my_wallet.address))

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

C) const sendAmount = standbyAmountField.value

D) const signed = standby_wallet.sign(prepared)

What does "TVL" mean?

A) Total value locked

C) Tokenized value loan

C) Trade volume level

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

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

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

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

D) All of the above.

What is the formula called that AMMs use to calculate a fair exchange rate?

A) Constrictive Function Formula

B) Constant Function Formula

C) Concise Function Formula

D) Creative Function Formula

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

A) const client = new xrpl.Client(net);

B) let net = getNet();

C) await client.connect();

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

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

A) Bitcoin

B) Ripplecoin

C) Ethereum

D) Dogecoin

E) All of the above

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

Which piece of code defines a transaction as a trust line?

const trustSet_tx = {"TransactionType": "TrustSet"}

const trustSet_tx = {"TransactionType": "Payment"}

await client.autofill(trustSet_tx)

operational_wallet.sign(ts_prepared)

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 node?

A) A computer that verifies blockchain transactions

B) A central authority that controls the network

C) A type of cryptocurrency

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

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

What's the first step to creating your own issued token on the XRPL?

A) Creating a trust line

B) Sending a transaction

C) Configuring the settings for your hot address

D) Creating accounts and acquiring XRP

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

A) App.jsx

B) send-currency.jsx

C) wallet-info.jsx

D) source-wallet.jsx

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

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

What is the primary goal when making a request on the XRPL?

A) To look up something on the ledger.

B) To retrieve currency from another account.

C) To prepare your wallet for an incoming transaction.

D) To send currency.