Intro to the XRPL Review Quiz

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

Which of the following best describes XRPL's check feature?

A) It is a secure way to hold funds until certain conditions are met

B) It allows for multiple people to jointly control an account

C) It authorizes an account to claim funds at a later date

D) You can make multiple payments without having to repeatedly send transactions to the network

What is the native currency of the XRPL?

A) XRPL

B) XRP

C) BTC

Can tokens and currencies be issued on the XRPL?

A) Yes

B) No

What is the purpose of hooks?

A) To provide smart contract functionality

B) To reduce fees

C) To increase the speed of transactions

D) To improve security

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

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

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 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

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