Comprehensive Quiz

Where are in-game assets stored?

A) In the game itself

B) On the blockchain as non-fungible tokens

C) In a digital wallet

What is a liquidity provider (LP)?

A) An individual who commits to trade at least once per day

B) A type of financial institution that is not subject to government regulation

C) Someone who supplies liquidity to a decentralized exchange (DEX)

What is the native currency of the XRPL?

A) XRPL

B) XRP

C) BTC

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'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

How does pathfinding work?

A) It uses XRP as an intermediary asset to find the lowest transaction cost

B) It uses a series of assets or hops to find the best connecting liquidities for the original trading pairs

C) It allows users to trade their assets without having to send them to a centralized exchange

What is one potential use case for NFTs?

A) Proving ownership of an asset

B) Identity verification

C) Storing academic credentials

D) All of the above

When transferring an NFT you own, which of the following helps someone else find and accept the transfer.

The NFTokenTaxon.

The OfferID.

The NFTokenOffer Index.

The WalletID.

How is blockchain changing the gaming industry?

A) Blockchain is making it easier for small developers to compete with the big names in the industry

B) Blockchain is making it possible for players to own and trade in-game assets

C) Blockchain allows anyone to earn an income from playing games

D) All of the above

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)

What is the difference between the testnet and livenet/mainnet servers?

When coding on the XRPL, you can test your code with the testnet before launching an app on the livenet.

The testnet uses fake XRP and fake currency. The livenet uses real XRP and currency.

New accounts on the testnet are funded via a centralized faucet, whereas the livenet requires a transfer from an exchange.

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 is decentralized finance?

A) An umbrella term for various protocols and financial instruments that are built on distributed ledger technology (DLT), such as blockchain

B) A type of financial institution that is not subject to government regulation

C) A way of investing that involves taking on more risk in order to potentially earn higher returns

What is an ask?

A) A price a buyer is willing to buy an asset at

B) A price a seller is willing to sell an asset at

C) The order book for the XRPL DEX

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

What is a node?

A) A computer that verifies blockchain transactions

B) A central authority that controls the network

C) A type of cryptocurrency

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

Why doesn't XRPL use PoW?

A) PoW uses a lot of energy

B) PoW is too slow

C) PoW isn't decentralized

D) Both A and B

E) All of the above

In the context of pathfinding on the XRPL, what is auto-bridging?

It refers to creating a bridge between different DEX platforms.

It involves using XRP as a bridge currency to facilitate token exchanges.

It is a technique to avoid multi-step transactions in DEX.

It is a process to automatically generate synthetic tokens.

How does pathfinding work?

A) It uses XRP as an intermediary asset to find the lowest transaction cost

B) It uses a series of assets or hops to find the best connecting liquidities for the original trading pairs

C) It allows users to trade their assets without having to send them to a centralized exchange