Comprehensive Quiz

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 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 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])

A TransferFee of 5000 denotes what fee?

50%

5%

0.5%

500%

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.

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 coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

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 + "....";

How is data mutation different in web 3.0 applications?

A) It is immutable

B) There are no smart contracts

C) It is mutable

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

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

To look up something on the ledger.

To retrieve currency from another account.

To prepare your wallet for an incoming transaction.

To send currency.

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 hook in the nice-xrpl library accepts an offer in an NFT transfer?

useAcceptSellOffer()

setSending(true);

const result = await acceptSellOffer(offerIndex);

Which hook in the nice-xrpl library will let you know when the client has connected to the XRPL?

Connected: {isConnected ? "Yes" : "No"}

useIsConnected()

WalletInfo()

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

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.

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

What is Forte?

A) A blockchain platform that provides funding and infrastructure for game developers

B) An in-game currency for the Fortnite game

C) A digital wallet

Why would someone use a multi-signature account?

A) To hold payment funds until the recipient has confirmed receipt of the goods or services being purchased

B) To require that multiple people approve payment before it is processed

C) To make a lot of small payments quickly and efficiently

D) To give someone else the ability to claim funds from your account at any time in the future

What do Automated Market Makers (AMMs) do?

AMMs calculate a fair exchange rate between tokens automatically.

AMMs find the best price for buying and selling tokens on a decentralized exchange.

AMMs automatically trade your tokens for you to increase your wealth.

AMMs figure out when the best time to trade your tokens is based on exchange rate fluctuations.