Comprehensive Quiz - XRP Ledger | 학습 포털

What is proof-of-work?

A) A type of consensus mechanism in which miners compete to solve 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 do Automated Market Makers (AMMs) do?

A) AMMs calculate a fair exchange rate between tokens automatically.

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

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

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

What makes an asset non-fungible?

A) It is digital

B) It is unique

C) It is stored on a blockchain

A TransferFee of 5000 denotes what fee?

50%

0.5%

500%

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)

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

How does risk mitigation differ between traditional finance and DeFi?

A) DeFi relies on extensive documentation to mitigate risk.

B) DeFi offers the same level of protection as traditional banks.

C) In DeFi, Individuals hold the risk and must secure their own accounts.

D) Traditional finance systems do not involve any risk mitigation.

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.

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

How does the XRPL order book differ from a typical AMM?

A) Trades on the Order Book happen during the hourly auction while an AMM executes trades instantly based on the current formula-based prices.

B) Trades on the Order Book happen when a marketplace merge (mpm) occurs while an AMM executes trades instantly based on the current formula-based prices.

C) Trades on the Order Book happen when a buyer's bid matches a seller's ask while an AMM executes trades instantly based on the current formula-based prices.

D) Trades on the Order Book happen when the buy/sell function cycles while an AMM executes trades instantly based on the current formula-based prices.

What is yield farming?

A) The act of making small purchases at different times of the day

B) The act of only buying the top-cryptocurrencies

C) The act of using DeFi protocols to earn interest on digital assets

Who first proposed the concept of smart contracts?

A) Nick Szabo

B) Satoshi Nakamoto

C) Vitalik Buterin

How do AMMs work?

A) AMMs work by holding currency in order books, then the ledger randomizes a fair exchange rate between the different currencies.

B) AMMs work by pooling currency in liquidity pools, then algorithmically picking a fair exchange rate between the different currencies.

C) AMMs work by pooling currency in liquidity pools, then the AMM leadership group picks a fair exchange rate between the different currencies.

D) AMMs work by pooling currency in liquidity pools, then the AMM community votes on a fair exchange rate between the different currencies.

What is one of the advantages that DeFi has over traditional finance systems?

A) DeFi has tighter geographical restrictions.

B) DeFi requires complicated documentation.

C) DeFi is more transparent.

D) DeFi doesn’t require an account.

Which hook in the nice-xrpl library creates a trust line?

const [trustlines, setTrustlines] = useState([]);

useCreateTrustline()

setTrustlines((trustlines)

useIsConnected()

What are some of the key benefits of blockchain technology?

A) It's secure, trustless, and tamper-proof

B) It's controlled by a central authority and transactions can be reversed

C) It's private, permissioned, and efficient

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

Do you need smart contracts to build on the XRPL?

A) Yes

B) No

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

A) The NFTokenTaxon.

B) The OfferID.

C) The NFTokenOffer Index.

D) The WalletID.