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