Intro to the XRPL Review Quiz

What is a private key?

A) A public address that is used to receive funds

B) The amount of XRP required to open an account

C) A password that is used to sign transactions

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

Which of the following best describes a sidechain?

A) A sidechain is a separate network that runs in parallel to the main network

B) A sidechain is a type of blockchain that is used to process transactions that are not related to the main blockchain

C) A sidechain is a centralized network that is used to process transactions

D) A sidechain is a fork of the main blockchain

Who can contribute to the XRPL?

A) High net worth individuals

B) Accredited investors

C) Anyone with an interest in building a better world

D) Vetted developers

Can tokens and currencies be issued on the XRPL?

A) Yes

B) No

Do you need smart contracts to create digital assets on the XRPL?

A) Yes

B) No

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

Who can see the XRPL code?

A) Anyone with an account on the XRPL

B) Only validator nodes

C) Anyone with an internet connection

Why would someone use escrows?

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 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