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Crypto Quiz @RaRa
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What is the role of a smart contract in blockchain technology?
Verifying cryptocurrency transactions
Facilitating automated transactions
Ensuring network security
Regulating cryptocurrency supply
Which of the following is a feature of a decentralized exchange (DEX)?
D) Only trades Bitcoin
B) Peer-to-peer trading without intermediaries
A) Central authority controlling transactions
C) Higher transaction fees compared to centralized exchanges
What is the purpose of a nonce in cryptocurrency mining?
C. To solve the cryptographic puzzle
A. To verify transactions
B. To create a new block
D. To secure the network
What is the maximum supply of Bitcoin (BTC)?
A) 21 million
C) 18 million
D) 28 million
B) 25 million
What is the primary function of a blockchain in cryptocurrency?
C) To provide a secure, immutable ledger of transactions
D) To control the price of cryptocurrencies
B) To enable reversible transactions
A) To store personal data of users
Which of the following is a commonly used consensus mechanism in cryptocurrencies?
B) Proof-of-Transaction (PoT)
A) Proof-of-Stake (PoS)
C) Proof-of-Identity (PoI)
D) Proof-of-Mining (PoM)
What is the concept of 'gas' in the Ethereum blockchain?
D. Decentralized exchange
B. Digital currency
A. Fuel for transactions
C. Smart contract
E. None of the above
What is the role of a blockchain node in a decentralized network?
Storing private keys
Generating new coins
Validating transactions
Executing smart contracts
What is the purpose of mining in a Proof-of-Work (PoW) blockchain?
A) To decrease the supply of the cryptocurrency
C) To validate and add new transactions to the blockchain
B) To create new wallets for users
D) To hack other blockchains
What is the role of a cryptocurrency wallet?
Managing social media accounts
Sending and receiving emails
Storing and managing digital assets
Storing physical currency
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