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