Comprehensive Quiz

Who can see the XRPL code?

A) Anyone with an account on the XRPL

B) Only validator nodes

C) Anyone with an internet connection

Which hook in the nice-xrpl library is used to broker a buy and sell offer from a third-party?

acceptBrokeredOffer()

useAcceptBrokeredOffer()

setBuyOfferIndex(e.currentTarget.value)

setSellOfferIndex(e.currentTarget.value)

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

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

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 was one of the first big NFT crazes?

A) CryptoKitties

B) Decentraland

C) Ethereum

D) Bitcoin

Which coding language is required to build on the XRPL?

A) JS

B) Python

C) Any language

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])

How much XRP must be destroyed in order to make a transaction on the network?

A) 0.01 XRP

B) 1 XRP

C) 0.00001 XRP

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

Where is the best place to store your private keys?

Written on a note.

Emailing them to yourself.

Remembering them.

In a hardware or software wallet.

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

How are cryptocurrency transactions secured?

A) Cryptography

B) A central authority verifies them

C) Strong passwords

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 advantage does web 3.0 offer to the gaming industry?

A) Reduced lagging

B) In-game assets with real-world value

C) Improved graphics

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's the difference between an NFT and a fungible token?

A) Fungible tokens are interchangeable, while NFTs are unique and have different values

B) Fungible tokens are worth something, while NFTs are not

C) Fungible tokens are physical, while NFTs are digital

D) Fungible tokens represent ownership of an asset, while NFTs do not

What is tokenization?

A) The process of turning an asset into a digital token

B) The process of burning an NFT

C) The act of buying or selling an NFT

Why did the founders of the XRPL create it?

A) To provide liquidity to the market

B) To send crypto to friends and family

C) To provide a more sustainable, scalable and fast alternative to Bitcoin

What is a use case for brokering an NFT transfer?

A marketplace that manages the sale of NFT’s for creators.

A curator who wants to organize NFT’s by type or price point.

An agent who works to buy and sell NFT’s, maximizing the sale price for creators.

All of the above