Intro to the XRPL Review Quiz

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.

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 the XRPL’s consensus algorithm?

A) Proof-of-work (PoW)

B) Delegated proof-of-stake (DPoS)

C) XRPL Consensus Mechanism

D) XRP Validator

What is a public address?

A) A private key that is used to sign transactions

B) The amount of XRP required to open an account

C) A cryptographic code that is used to locate an account on the blockchain

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

A) Yes

B) No

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

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

What is the native currency of the XRPL?

A) XRPL

B) XRP

C) BTC

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